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Area 44AD – Typical textbooks of accounts are to generally be preserved if cash flow exceeds The fundamental exemption limit and an audit shall be performed if disorders According to provisions of Part 44AB are fulfilled.
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6% of whole turnover or gross receipts of a tax year acquired by account payee cheque/financial institution draft, ECS by means of checking account on or before owing date of submitting the return of earnings
Remember to Take note each exertion continues to be built to make certain the enclosed information and facts is accurate; nonetheless, from the party of the mistake, the winning quantities and prize amounts from the Formal information in the Ga Lottery Corporation shall be managing.
Deduction of remuneration just isn't authorized if the corporations money are taxed under the presumptive taxation segment 44AD or 44ADA.
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Overall advance tax is usually paid out by final installment of advance tax i.e., fifteen March of the year, in case of failure to do so, curiosity is leviable @ one% on shortfall as per Segment 234C