Top Guidelines Of 44 cash
Top Guidelines Of 44 cash
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Authorised agent indicates a one that represents Yet another particular person for just a price right before a tribunal or any authority constituted below any legislation. It doesn't involve an personnel of the person so represented or perhaps a one who is carrying to the profession of accountancy
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In case of Portion 44AE, if taxpayer can be a partnership company, wage and desire paid to partners is allowed as deduction from prescribed income previously mentioned
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In the above mentioned circumstance, Mr Ram can go for presumptive taxation if the tax is compensated on fifty% of gross receipts. Consequently, Ram can opt to fork out tax beneath the presumptive plan of taxation less than part 44ADA.
The limit is increased to INR seventy five lakhs if the total quantity received in cash would not exceed five percent of the total gross receipts of this kind of previous calendar year.