44 cash Things To Know Before You Buy
44 cash Things To Know Before You Buy
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All deductions for enterprise bills are deemed to have been allowed. As soon as income are taxed at 50% with the gross receipts, the balance of fifty% is deemed for being allowed in direction of all of the business enterprise bills of the assessee.
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In the above illustration, the entire receipt is below the revised/increased presumptive Restrict of Rs. seventy five lakh as well as the cash receipt is fewer than 5% of the overall receipts.
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Full advance tax is usually paid by previous installment of advance tax i.e., fifteen March of the calendar year, in the event of failure to do so, curiosity is click here leviable @ one% on shortfall as per Portion 234C
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