44 cash - An Overview
44 cash - An Overview
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Anyone carrying on qualified enterprise or occupation under Section 44AD or 44AE or 44ADA and promises financial gain lower when compared to the prescribed cash flow, will not be permitted to benefit from the aid offered for maintenance of textbooks of account and audit.
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Please critique the legislation inside your point out To find out more with regards to the implications of not repaying a payday financial loan.
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Part 44ADA was released to extend the plan of simplified presumptive taxation to specified professionals. Previously, the presumptive scheme of tax was available only to compact firms.
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If an assessee meets any of the subsequent conditions, then they must retain textbooks of accounts and acquire accounts audited underneath area 44AB: