Getting My 44 cash To Work

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Presumptive taxation underneath Sec 44ADA simplifies tax calculation for little specialists. Portion 44ADA outlines guidelines and Advantages, with limits revised in Funds 2023.

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Will I be allowed any deduction for any expenditure incurred for investments and insurance coverage top quality below Section 80C and 80D, if I go for presumptive taxation?

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Anyone carrying on eligible organization or career under Segment 44AD or 44AE or 44ADA and claims financial gain lower as opposed to prescribed earnings, is not really allowed to enjoy the reduction given for servicing of books of account and audit.

Consequently the taxpayer can decide for the presumptive taxation scheme under part 44ADA along with the taxable revenue chargeable is 50% of the whole receipts. 

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