Not known Factual Statements About 44 cash
Not known Factual Statements About 44 cash
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No, you will not be necessary to maintain books of account after you choose presumptive taxation process.
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Beneath the income tax regulations, anyone engaged in prescribed small business or job is needed to mandatorily manage textbooks of account, put together fiscal statements and have his accounts audited. Additional, revenue/reduction as per these kinds of fiscal statements can be thought of to reach at taxable income following making vital changes.
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Equally the calculation for being designed for the period all through which the goods carriage is owned from the taxpayer
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Section 44ADA – Normal books of accounts are to become preserved and obtain them audited if cash flow exceeds fundamental exemption Restrict.
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