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In the above case, Mr Ram can choose presumptive taxation In case the tax is paid out on 50% of gross receipts. Hence, Ram can decide to pay tax under get more info the presumptive plan of taxation below segment 44ADA.
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I am a chartered accountant, effectively-versed while in the ins and outs of money tax, GST, and trying to keep the books well balanced. Figures are my matter, I'm able to sift as a result of economic statements and tax codes with the best of these. But there is A further aspect to me – a facet that thrives on text, not figures. Go through more
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Segment 44ADA – Standard publications of accounts are to get preserved and obtain them audited if income exceeds basic exemption limit.
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