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A forty four-year-previous gentleman continues to be billed with possessing prison property, concealing criminal home and getting into into an arrangement to obtain felony property.
No concession in payment of advance tax. Identical shall be compensated in 4 installments According to typical advance tax provisions
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No, It's not at all Obligatory to opt Portion 44AE, it truly is optional, if you opt for normal provisions, Then you really may have to keep up books of accounts and have the identical audited.
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In this article, we can easily Look at his taxable income below standard provisions along with the presumptive scheme as underneath:
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Anyone carrying on eligible business enterprise or career beneath Area 44AD or 44AE or 44ADA and statements earnings lower than the prescribed profits, isn't permitted to enjoy the relief supplied for upkeep of publications of account and audit.
If an assessee satisfies any of the next conditions, then they need to maintain textbooks of accounts and get accounts audited under area 44AB:
Area 44ADA was released to extend the scheme of simplified presumptive taxation to specified experts. Earlier, the presumptive plan of tax was readily available only to tiny organizations.