The 44 cash Diaries
The 44 cash Diaries
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six% of complete turnover or gross receipts of a tax year gained by account payee cheque/financial institution draft, ECS via checking account on or in advance of due date of submitting the return of revenue
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No, It's not necessarily compulsory to decide Section 44AE, it truly is optional, if you opt for typical provisions, Then you really might have to keep up guides of accounts and get precisely the same audited.
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I am a chartered accountant, nicely-versed from the ins and outs of income tax, GST, and maintaining the publications well balanced. Quantities are my factor, I am able to sift by financial statements and tax codes with the most beneficial of these. But you will find Yet another side to me – a side that thrives on terms, not figures. Go through much more
No, you will not be required to maintain publications of account when you opt for presumptive taxation technique.
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Therefore the taxpayer can decide to the presumptive taxation plan underneath area 44ADA along with the taxable website revenue chargeable is 50% of the full receipts.
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