If an assessee meets any of the subsequent conditions, then they need to maintain guides of accounts and obtain accounts audited underneath section 44AB:
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What exactly is presumptive taxation? A presumptive taxation can be a system where a government assumes a specific share of one's turnover/gross receipts as your taxable revenue regardless of the charges incurred.
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Presumptive taxation strategies to relieve modest taxpayers are presented under Portion 44AD, 44ADA and 44AE. When Part 44ADA is for professionals Part 44AD and 44AE worries smaller business enterprise taxpayers. Allow us to realize them intimately.
A income counting calculator can be utilized in several predicaments that call for you to locate a total sum of money and can easily be useful for any of the next:
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Prepared down worth of property could be computed as though depreciation is and has usually been claimed around the belongings
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Certainly, you are able to choose equally Portion 44AD and Segment 44ADA jointly, When you have revenue from company and also specified gurus.