Details, Fiction and 44 cash
Details, Fiction and 44 cash
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In the above illustration, the whole receipt is under the revised/amplified presumptive Restrict of Rs. 75 lakh along with the cash receipt is fewer than 5% of the whole receipts.
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Authorised representative suggests a individual who signifies Yet another individual for a rate prior to a tribunal or any authority constituted beneath any regulation. It doesn't involve an employee of the person so represented or maybe a one that is carrying to the career of accountancy
The earliest verified occurrence in the identify Lavapura is on silver cash inscribed "lava" over the obverse and "pura" on the reverse in a very Pallava-derived script in the seventh or eighth century; various this kind of coins were being recovered in 1966 from a hoard located in an historical jar in U Thong.[nine][10]
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Nevertheless, to offer aid to small taxpayers from your monotonous occupation of maintaining books of account and obtaining them audited, earnings tax law has introduced the idea of presumptive taxation scheme.
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Taxpayers declare revenue at a prescribed amount irrespective of actual income. It really is applicable below Area 44AD, 44AE, and 44ADA for differing kinds of taxpayers and professions.
Area 44AE – Typical guides of account shall be taken care of and audit shall be performed no matter turnover or profits.
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