Considerations To Know About 44 cash
Considerations To Know About 44 cash
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No other deductions for company expenses that tend to be permitted may be claimed eg. depreciation, lease, administrative bills and so on
Here, we will Assess his taxable money below regular provisions as well as presumptive plan as down below:
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In the above case, Mr Ram can go with presumptive taxation if the tax is paid on fifty% of gross receipts. Therefore, Ram can opt to spend tax beneath the presumptive scheme of taxation beneath part 44ADA.
If an assessee satisfies any of the following criteria, then they must maintain textbooks of accounts and have accounts audited beneath area 44AB:
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