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No, you won't be necessary to maintain guides of account after you go for presumptive taxation method.
Displays the number of hours labored and the volume of several hours of depart Utilized in Just about every group yr to date.
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Be sure to critique the rules inside your point out to learn more concerning the implications of not repaying a payday personal loan.
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Presumptive taxation scheme allows the taxpayers declare their taxable profits in a prescribed fee regardless of true earnings/gains and in turn relieves them in the stress of protecting frequent books of account and receiving the very same audited.
Segment 44ADA was introduced to extend the plan of simplified presumptive taxation to specified specialists. Before, the presumptive plan of tax was offered only to small organizations.
Shows the amount of hrs worked and the number of several hours of go away Employed in each classification throughout the shell out period of time.
No concession in payment of advance tax. Same shall be paid out in four installments as per typical advance tax provisions
To the encounter of it, shifting emphasis to distributions to compensated-in cash over internal costs of return is bewildering supplied how inadequately the field is performing on each.
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