44 cash Options
44 cash Options
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Both equally the calculation to become built for your interval throughout which the goods carriage is owned from the taxpayer
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Authorised agent means a one who represents An additional particular person for your fee ahead of a tribunal or any authority constituted below any regulation. It doesn't involve an worker of the person so represented or perhaps a one that is carrying to the profession of accountancy
No concession in payment of advance tax. Same shall be paid out in 4 installments According to regular advance tax provisions
What is presumptive taxation? A presumptive taxation can be a system where a governing administration assumes a specific percentage within your turnover/gross receipts as your taxable cash flow regardless of the expenses incurred.
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No, you won't be expected to take care of textbooks of account after you select presumptive taxation method.
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Complete progress tax could be paid by final installment of progress tax i.e., fifteen March of a year, in the event of failure more info to do so, curiosity is leviable @ 1% on shortfall as per Section 234C
In the above mentioned case, Mr Ram can go with presumptive taxation In case the tax is compensated on 50% of gross receipts. Therefore, Ram can choose to fork out tax under the presumptive scheme of taxation underneath section 44ADA.
Section 44AD – Normal guides of accounts are to be preserved if earnings exceeds The essential exemption limit and an audit shall be carried out if ailments According to provisions of Section 44AB are fulfilled.
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