44 cash - An Overview
44 cash - An Overview
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Deduction of remuneration is not really allowed In case the companies revenue are taxed under the presumptive taxation portion 44AD or 44ADA.
Taxpayers declare cash flow in a prescribed level in spite of genuine gains. It's applicable underneath Area 44AD, 44AE, and 44ADA for differing kinds of taxpayers and professions.
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Segment 44ADA – Common textbooks of accounts are to generally be managed and obtain them audited if earnings exceeds essential exemption Restrict.
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What on earth is presumptive taxation? A presumptive taxation can be a method by which a govt assumes a specific percentage within your turnover/gross receipts as your taxable cash flow irrespective of the fees incurred.
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In the event of Portion 44AE, if taxpayer can be a partnership business, wage and desire compensated to associates is authorized as deduction from prescribed income over