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Anyone carrying on qualified company or job below Segment 44AD or 44AE or 44ADA and claims profit reduce when compared to the prescribed income, just isn't permitted to enjoy the relief presented for maintenance of publications of account and audit.

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The pursuit continued together the twin carriageway until the vehicle was sooner or later introduced into a managed quit by officers.

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Deduction of remuneration is just not authorized If your companies income are taxed underneath the presumptive taxation portion 44AD or 44ADA.

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The presumptive plan of taxation minimizes the compliance stress on modest professions and facilitates simplicity of executing enterprise. Underneath the presumptive scheme of taxation, gains/taxable cash flow is presumed at 50% from the gross receipts.