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Full advance tax may be compensated by last installment of advance tax i.e., 15 March of the year, in the event of failure to do so, fascination is leviable @ 1% on shortfall According to Segment 234C
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No, you will not be necessary to maintain publications of account once you go for presumptive taxation program.
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The annuity will take into consideration not just the cash value of the prize but will also the desire that it will create as time passes.
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The Sugam ITR four can be a simplified return form for use by an assessee if he is qualified to declare profits on the presumptive basis and would not here retain guides of account u/s 44AD and 44AE. ITR four may be submitted using Cleartax e-submitting portal or earnings tax e-submitting portal.
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Presumptive taxation plan launched for modest taxpayers underneath sections 44AD and 44ADA. Recent updates in 2023: greater turnover boundaries. Circumstances include things like continuity for five decades and on the net transactions necessity.
Displays the monetary number of several hours worked and of go away used in Every single category over the spend time period.