If the many problems specified above are fulfilled, though the profit declared is fewer than 8% then is Tax Audit demanded?

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Will I be permitted any deduction for any expenditure incurred for investments and insurance policies top quality under Area 80C and 80D, if I go with presumptive taxation?

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Nonetheless, the increased limit will likely be available only if the cash receipt does not exceed 5% of the full receipt of your enterprise or career as the situation could be. 

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Additionally, you will be required to fork out interest under Sections 234B and 234C if you do not spend advance tax by the fiscal yr's 15th of March.

Deduction of remuneration isn't allowed If your corporations profits are taxed under the presumptive taxation section 44AD or 44ADA.

He's the entire deal to maneuver your herd ahead right away. He blends great phenotype and genomic traits. He experienced a yearling body weight of 1,401 kilos; he has significant hips and it has a huge amount of guts. He is everything you would like to evaluate. Genomically, he brings progress, lots of carcass advantage in leading 1% with the breed for CW, Marb and RE and also large $B and $C. Palmer Angus and forty four Farms will attribute him seriously for breeding, and straws can be found available.

Specialists talked about while in the area pays tax on their gross receipts underneath portion 44ADA, and they are able to select this scheme provided that their overall money won't exceed Rs.seventy five lakhs/50 lakhs. 

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