44 cash Things To Know Before You Buy
44 cash Things To Know Before You Buy
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The term `gross turnover’ and `Internet turnover’ (or `gross profits’ and `Internet profits’) are sometimes utilized to distinguish the income mixture right before and right after deduction of returns and trade savings”.
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Will I be allowed any deduction for just about any expenditure incurred for investments and insurance plan quality under Section 80C and 80D, if I go for presumptive taxation?
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On the other hand, the improved limit is going to be readily available provided that the cash receipt doesn't exceed five% of the whole receipt from the business or occupation as the situation can be.
Hence just in case, Assessee just isn't accountable for Tax Audit less than any in the clauses of Section 44AB, because of to learn out there under this clause. Hence, without any computation, This could certainly’t be ascertained.
Additionally, you will be necessary to pay out desire underneath Sections 234B and 234C if you do not pay back advance tax because of the fiscal 12 months's 15th of March.
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Right after opting for presumptive taxation, if your income goes past the established limit then You need to Get the publications audited.
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