The 2-Minute Rule for 44 cash

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Part 44ADA is often a Distinctive provision for calculating the taxable cash flow for modest specialists in sure instances.

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In the above mentioned illustration, the whole receipt is underneath the revised/elevated presumptive Restrict of Rs. 75 lakh along with the cash receipt is fewer than 5% of the full receipts.

No, it is not Obligatory to decide Portion 44AE, it truly is optional, if you opt for standard provisions, Then you definitely may have to keep up textbooks of accounts and have the exact same audited.

Presumptive taxation scheme lets the taxpayers declare their taxable earnings in a prescribed rate no matter precise financial gain/gains and in turn relieves them from your load of retaining regular books of account and getting the identical audited.

List your total offered money like wages, retirement, investments, and rental Qualities. You're not essential to reveal earnings that is alimony, kid support or individual servicing Unless of course you would like to use that earnings to qualify to get a loan.

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