Deduction of remuneration is not really permitted Should the corporations cash flow are taxed under the presumptive taxation section 44AD or 44ADA.
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Since its inception given that the funds of Siam, it absolutely was at the middle of European Colonial programs, but on account of its strategic spot in Indochina, it acted like a buffer-zone and brokered electricity in between the eu forces.
You will also be necessary to spend fascination below Sections 234B and 234C If you don't pay back advance tax via the fiscal yr's fifteenth of March.
A 44-calendar year-previous gentleman has been billed with possessing felony residence, concealing prison assets and moving into into an arrangement to obtain criminal house.
All deductions for small business bills are deemed to happen to be authorized. Once income are taxed at fifty% of your gross receipts, the stability of 50% is deemed to be allowed toward every one of the business bills on the assessee.
Any person carrying on suitable organization or occupation less than Segment 44AD or 44AE or 44ADA and statements income reduced as opposed to prescribed money, isn't permitted to take pleasure in the relief provided for upkeep of guides of account and audit.
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The Restrict is increased to INR seventy five lakhs if the whole amount of money acquired in cash will not exceed five per cent of the whole gross receipts of this sort of previous 12 months.
What exactly is presumptive taxation? A presumptive taxation is often a procedure by which a federal government assumes a specific percentage of your respective turnover/gross receipts as your taxable profits no matter the expenditures incurred.
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The pursuit ongoing together the twin carriageway until eventually the car was sooner or later introduced to some managed halt by officers.
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