Not known Factual Statements About 44 cash
Not known Factual Statements About 44 cash
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In the event the pros claim their money to be under 50% in their gross overall receipts and likewise when they exceed the the Restrict of gross receipt, then they can not opt for presumptive taxation.
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I am a chartered accountant, nicely-versed while in the ins and outs of earnings tax, GST, and retaining the guides well balanced. Quantities are my factor, I'm able to sift as a result of financial statements and tax codes with the very best of them. But there's A different facet to me – a facet that thrives on words, not figures. Go through more
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Segment 44AE – Typical publications of account shall be taken care of and audit shall be completed no matter turnover or cash flow.
Beneath the income tax legal guidelines, a person engaged in prescribed enterprise or job is necessary to mandatorily preserve guides of account, put together financial statements and obtain his accounts audited. More, profit/decline According to this kind of money statements would be considered to arrive at taxable revenue right after building vital changes.
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