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I'm a chartered accountant, perfectly-versed from the ins and outs of cash flow tax, GST, and retaining the guides balanced. Figures are my thing, I am able to sift by means of monetary statements and tax codes with the ideal of these. But you can find A different aspect to me – a facet that thrives on text, not figures. Study additional
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Displays the number of hrs labored and the amount of several hours of depart Utilized in Each individual category yr to this point.
All deductions for small business costs are considered to are already allowed. As soon as gains are taxed at 50% on the gross receipts, the harmony of fifty% is deemed to become allowed towards all of the company expenses in the assessee.
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In the above illustration, the overall receipt is down below the revised/greater presumptive limit of Rs. seventy five lakh as well as the cash receipt is under five% of the whole receipts.
Yes. If you owe more than INR ten,000 in taxes for your fiscal year, It's important to spend progress tax. As opposed to creating 4 payments in regular situation, you should spend advance tax on or just before March fifteenth For those who have selected a presumptive taxation procedure below section 44AD or 44ADA.
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In this article, we can Evaluate his taxable earnings below regular provisions as well as the presumptive scheme as under:
Analyzing overall performance can be an imperfect science: every single metric has its advantages and drawbacks. Shifting the goalposts, on the other hand, is rarely a sign that the game is going perfectly. Seem no further as opposed to non-public fairness market, where DPI is The brand new IRR.
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