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However, to offer reduction to small taxpayers through the tiresome work of protecting guides of account and acquiring them audited, money tax regulation has introduced the thought of presumptive taxation scheme.

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Deduction of remuneration is not permitted When the companies income are taxed beneath the presumptive taxation part 44AD or 44ADA.

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Immediately after choosing presumptive taxation, Should your cash flow goes past the set Restrict then you have to Obtain your guides audited.

Shows the quantity of hours worked and the quantity of hrs of leave used in Each individual classification 12 months to this point.

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