44 cash - An Overview
44 cash - An Overview
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The published down benefit (WDV) of belongings for tax purposes shall be calculated as of the depreciation has become authorized each and every year. This WDV could be the worth of the asset for tax functions in the scenario in which the asset is marketed afterwards because of the assessee.
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The pursuit continued together the twin carriageway right up until the car was finally introduced into a managed cease by officers.
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Therefore the taxpayer can decide for your presumptive taxation plan beneath area 44ADA and also the taxable income chargeable is 50% of the overall receipts.
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Segment 44AD – Standard textbooks of accounts are to get taken care of if profits exceeds the basic exemption limit and an audit shall be carried check here out if conditions According to provisions of Part 44AB are fulfilled.
Soon after opting for presumptive taxation, If the money goes past the set limit then you have to Obtain your textbooks audited.
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