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Of course, someone can assert advantage of Section 44AD and Part 44ADA at the same time if he/she has revenue from the two occupation in addition to enterprise.
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Hence the taxpayer can choose for that presumptive taxation plan underneath portion 44ADA as well as the taxable earnings chargeable is 50% of the whole receipts.
The penned down benefit (WDV) of property for tax reasons shall be calculated as of the depreciation has actually been permitted on a yearly basis. This WDV will be the worth in the asset for tax needs in the situation where by the asset is marketed later on via the assessee.
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The Restrict is elevated to INR 75 lakhs if the overall volume gained in cash doesn't exceed 5 % of the total gross receipts of this sort of previous yr.
The conditions for many of the consents have improved. To carry on to obtain information and facts you should update your consents.
A forty four-yr-aged guy has become billed with possessing prison house, concealing prison home and moving into into an arrangement to accumulate prison assets.
Losses can most likely exceed the Original expected deposit. You might want to entire an solutions buying and selling application and have approval on suitable accounts. Be sure to examine the Traits and Hazards of Standardized Selections right before investing solutions.
Written down price of assets is usually computed like depreciation is and it has more info always been claimed around the property
Just after picking presumptive taxation, In the event your money goes further than the set Restrict then you have to Obtain your guides audited.
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