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When you are matched by using a lender, along with your bank loan is accepted, the fascination premiums and charges that you will incur during repayment will be furnished for you.
What is presumptive taxation? A presumptive taxation is a technique by which a govt assumes a particular share of the turnover/gross receipts as your taxable income regardless of the bills incurred.
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When you are matched using a lender, as well as your loan is permitted, the curiosity fees and charges that you will incur for the duration of repayment is going to be offered for you.
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In the above mentioned circumstance, Mr Ram can go for presumptive taxation if the tax is compensated on fifty% of gross receipts. Therefore, Ram can opt to pay tax underneath the presumptive scheme of taxation under portion 44ADA.
If an assessee satisfies any of the subsequent standards, then they have to sustain publications of accounts and have accounts audited below area 44AB:
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