Facts About 44 cash Revealed

Facts About 44 cash Revealed

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Section 44ADA –  Regular publications of accounts are being preserved and have them audited if revenue exceeds basic exemption limit.

Consequently the taxpayer can choose for your presumptive taxation plan beneath area 44ADA along with the taxable cash flow chargeable is 50% of the whole receipts. 

I am a chartered accountant, properly-versed during the ins and outs of profits tax, GST, and trying to keep the publications balanced. Figures are my detail, I am able to sift by economical statements and tax codes with the best of them. But there is certainly A further side to me – a facet that thrives on words, not figures. Go through far more

Deduction of remuneration is just not authorized If your companies profits are taxed beneath the presumptive taxation part 44AD or 44ADA.

Despite choosing presumptive plan beneath section 44ADA, taxpayer can claim area 80 tax conserving deductions and investments.

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In the event of Area 44AE, if taxpayer is often a partnership company, income and desire compensated to associates is authorized as deduction from prescribed money above