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In case of Part 44AE, if taxpayer can be a partnership agency, wage and curiosity paid to companions is permitted as deduction from prescribed earnings previously mentioned
A 44-year-aged gentleman has become billed with possessing legal property, concealing felony house and entering into an arrangement to obtain felony home.
six% of whole turnover or gross receipts of the tax calendar year received by account payee cheque/lender draft, ECS through banking account on or before owing date of submitting the return of profits
Under the earnings tax legislation, anyone engaged in prescribed company or job is required to mandatorily keep guides of account, prepare financial statements and get his accounts audited. Further, gain/reduction as per this kind of money statements could well be thought of to arrive at taxable earnings following making essential adjustments.
Following opting for presumptive taxation, When your revenue goes over and above the set Restrict then You will need to Get the books audited.
Investors — more and more desperate to see some cash back — are on their own far more centered on DPIs, effectively provided that cash in hand is worthy of much more than an unrealised IRR during the bush.
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