5 Easy Facts About 44 cash Described

You will also be required to shell out fascination less than Sections 234B and 234C If you don't pay progress tax via the fiscal calendar year's fifteenth of March.

In the event of Part 44AE, if taxpayer is a partnership firm, salary and desire compensated to associates is allowed as deduction from prescribed profits higher than

Authorised representative usually means a one who represents A further individual for a price in advance of a tribunal or any authority constituted under any law. It does not involve an personnel of the individual so represented or perhaps a individual who is carrying about the job of accountancy

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Portion 44AD – As per Portion 44AD, in which a taxpayer opts for presumptive taxation plan for virtually any with the money 12 months he is needed to carry on to decide for a similar for future five decades. If he fails to do so, he will not be qualified to opt for presumptive taxation plan u/s 44AD for five yrs succeeding the yr during which he opts out. Further, with regard to All those five money decades where taxpayer is ineligible to go for presumptive taxation scheme u/s 44AD, regular books of account need to be maintained and audit shall be carried out if complete revenue exceeds essential exemption Restrict.

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When you are matched having a lender, along with your mortgage is approved, the fascination charges and fees that you're going to incur through repayment might be supplied for you.

Total advance tax may be compensated by last installment of advance tax i.e., 15 March of the yr, in the event of failure to do so, desire is leviable @ one% on shortfall According to Section 234C

In the above scenario, Mr Ram can select presumptive taxation When the tax is paid out on 50% of gross receipts. As a result, Ram can choose to pay back tax beneath the presumptive scheme of taxation underneath segment 44ADA. 

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