A Secret Weapon For 44 cash
A Secret Weapon For 44 cash
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No, you will not be needed to keep up books of account when you finally choose presumptive taxation program.
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Complete progress tax is usually paid out by previous installment of progress tax i.e., 15 March of the year, in the event of failure to take action, curiosity is leviable @ one% on shortfall as per Part 234C
No other deductions for business enterprise costs that are 44 cash often authorized is often claimed eg. depreciation, lease, administrative bills etc
Of course. In case you owe much more than INR 10,000 in taxes for that fiscal calendar year, You will need to spend progress tax. In lieu of earning 4 payments in regular circumstances, you need to pay back advance tax on or just before March 15th When you've got selected a presumptive taxation technique under area 44AD or 44ADA.
In the above illustration, the whole receipt is below the revised/elevated presumptive Restrict of Rs. 75 lakh as well as cash receipt is fewer than 5% of the overall receipts.
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Profits within the career is obtainable in a reduced rate than 50% in the gross receipts (i.e., the charges to get claimed is over 50% of the gross receipts) and the overall profits is a lot more than The essential exemption.
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six% of whole turnover or gross receipts of the tax calendar year obtained by account payee cheque/lender draft, ECS by checking account on or prior to owing date of submitting the return of money
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