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If an assessee meets any of the subsequent conditions, then they have to retain textbooks of accounts and obtain accounts audited below part 44AB:
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To stop monkeys attacking persons, the officer will feed monkeys in three designated regions outside San Phrakan 2 times on a daily basis, at 10am and 4pm. Individuals who would like to feed monkeys besides these occasions, make sure you contact the officer or caretaker
Segment 44ADA was introduced to increase the scheme of simplified presumptive taxation to specified experts. Previously, the presumptive scheme of tax was obtainable only to modest firms.
Entire progress tax could be compensated by very last installment of progress tax i.e., fifteen March of the year, in the event of failure to do so, interest is leviable @ 1% on shortfall According to Portion 234C
Money from your job is obtainable at a lower amount than 50% with the gross receipts (i.e., the expenditures to become claimed is greater than 50% with the gross receipts) and the full profits is a lot more than the basic exemption.
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Sure, somebody can claim advantage of Portion 44AD and Part 44ADA at the same time if he/she has revenue from the two job and also enterprise.
In the above case, Mr Ram can select presumptive taxation If your tax is paid out on fifty% of gross receipts. As a result, Ram can opt to spend tax beneath the presumptive scheme of taxation less than area 44ADA.