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Any person carrying on eligible enterprise or job below Portion 44AD or 44AE or 44ADA and promises revenue lower compared to prescribed revenue, just isn't allowed to take pleasure in the relief presented for servicing of textbooks of account and audit.
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CP Foods has carried out a complete independent, 3rd-get together audit of its shrimp feed offer chain (every one of the way back again to the person fishing boats catching fish for fishmeal output), performed by a leading Global source chain audit corporation.
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Presumptive taxation techniques To alleviate small taxpayers are provided here under Section 44AD, 44ADA and 44AE. While Part 44ADA is for specialists Section 44AD and 44AE concerns compact business enterprise taxpayers. Let's understand them in detail.
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Having said that, the increased Restrict will likely be available only if the cash receipt will not exceed five% of the full receipt of your business enterprise or occupation as the case may be.
Composed down price of property may be computed as though depreciation is and has often been claimed around the belongings
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Partnership corporations (note that restricted liability partnerships will not be qualified to select Portion 44ADA)