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I am a chartered accountant, perfectly-versed in the ins and outs of money tax, GST, and preserving the textbooks well balanced. Quantities are my detail, I'm able to sift by means of financial statements and tax codes with the most beneficial of these. But you will find A different facet to me – a aspect that thrives on text, not figures. Browse a lot more
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Part 44ADA was introduced get more info to increase the plan of simplified presumptive taxation to specified professionals. Earlier, the presumptive plan of tax was obtainable only to smaller corporations.
Returns 30-day refund/substitute This merchandise is usually returned in its authentic problem for a complete refund or substitution within 30 times of receipt. You might receive a partial or no refund on applied, destroyed or materially diverse returns. Examine comprehensive return plan
Anyone carrying on qualified company or profession under Part 44AD or 44AE or 44ADA and statements profit reduced compared to prescribed revenue, just isn't permitted to take pleasure in the relief presented for maintenance of textbooks of account and audit.
The limit is improved to INR 75 lakhs if the total sum acquired in cash will not exceed 5 p.c of the overall gross receipts of this kind of preceding year.