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In case of Part 44AE, if taxpayer is really a partnership business, salary and fascination compensated to companions is allowed as deduction from prescribed profits previously mentioned
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In case you default around the payments within your bank loan you may well be to blame for added charges. At forty four cash now we attempt to operate with lenders that use good and authorized collection actions to rectify a personal loan which includes not been repaid.
Eligible professionals involve interior decorators, engineers, clinical practitioners, plus much more. Preserving publications of accounts and auditing necessities vary depending on cash flow concentrations. The scheme permits simple tax calculation based upon gross receipts.
Displays the number of several hours labored and the volume of hours of leave used in Every group yr so far.
I'm a chartered accountant, well-versed within the ins and outs of cash flow tax, GST, and maintaining the guides balanced. Quantities are my thing, I am able to sift by money statements and tax codes with the top of these. But there is certainly One more aspect to me – a side that thrives on text, not figures. Read through a lot more
No, you won't be essential to keep up guides of account when you finally go for presumptive taxation procedure.
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In the above mentioned situation, Mr Ram can choose presumptive taxation When the tax is paid on fifty% of gross receipts. As a result, Ram can decide to pay tax under the presumptive plan of taxation below portion 44ADA.
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