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Section 44ADA –  Frequent textbooks of accounts are to generally be managed and have them audited if revenue exceeds essential exemption Restrict.

A 44-12 months-previous guy has become charged with possessing criminal assets, concealing criminal assets and entering into an arrangement to obtain legal home.

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The presumptive scheme of taxation lowers the compliance burden on small professions and facilitates simplicity of undertaking small business. Underneath the presumptive plan of taxation, revenue/taxable cash flow is presumed at 50% in the gross receipts.

What is presumptive taxation? A presumptive taxation can be a method in which a federal government assumes a particular percentage within your turnover/gross receipts as your taxable profits irrespective of the expenses incurred.

The entire amount of candles lit within the menorah in the Jewish holiday of Chanukah, which starts off over the 25th working day in the Hebrew month of Kislev and finishes around the 2nd or even the 3rd day of Tevet.

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Complete advance tax is usually compensated by previous installment of here advance tax i.e., fifteen March of the year, in case of failure to take action, curiosity is leviable @ 1% on shortfall According to Section 234C

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