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Will I be allowed any deduction for just about any expenditure incurred for investments and insurance premium underneath Section 80C and 80D, if I opt for presumptive taxation?

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Should the industry experts claim their income to be less than 50% of their gross total receipts as well as should they exceed the the Restrict of gross receipt, then they can't go with presumptive taxation.

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Sure. In case you owe more than INR 10,000 in taxes with the fiscal calendar year, You need to fork out advance tax. As an alternative to building four payments in regular instances, you will need to pay back advance tax on or just before March 15th In case you have picked a presumptive taxation process underneath area 44AD or 44ADA.

Forex Converter is surely an Trade rate information and facts and information app only and never a forex trading platform. The knowledge shown there would not constitute financial tips.

Qualified experts contain inside decorators, engineers, healthcare practitioners, plus more. Maintaining textbooks of accounts and auditing specifications vary depending on earnings levels. The scheme permits very simple tax calculation dependant on gross receipts.

Taxpayers declare money at a prescribed fee regardless of real revenue. It is actually applicable below Part 44AD, 44AE, and 44ADA for different types of taxpayers and professions.

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Zoning and land use facts is furnished by Zoneomics for informational purposes only. Redfin will not endorse or promise this facts, and suggests consumers carry out their very own investigation.

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