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When the specialists assert their income for being under 50% in their gross full receipts in addition to when they exceed the the Restrict of gross receipt, then they can't go for presumptive taxation.
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(“Owns” also consists of merchandise carriage taken on retain the services of or installment the place the quantity payable remains to be thanks)
Cash flow within the career is offered in a reduce level than fifty% from the gross receipts (i.e., the expenditures being claimed is more than 50% in the gross receipts) and the entire revenue is greater than The essential exemption.
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Sure. Should 44 cash you owe a lot more than INR 10,000 in taxes for the fiscal yr, You will need to pay out progress tax. In lieu of creating 4 payments in usual circumstances, you will need to pay out progress tax on or ahead of March fifteenth Should you have picked a presumptive taxation system below area 44AD or 44ADA.
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