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For this reason, he isn't qualified to opt for a presumptive scheme for five years. In almost any of those five years, if his taxable earnings exceeds read more The fundamental exemption Restrict, he is liable to take care of publications of accounts and do a tax audit for that appropriate money 12 months.
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Constraints stated for opting out early or declaring decreased income. Demands for textbooks upkeep and tax audit if constraints not achieved. Advance tax payment facts.
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Presumptive taxation strategies To ease smaller taxpayers are provided underneath Segment 44AD, 44ADA and 44AE. Although Segment 44ADA is for gurus Section 44AD and 44AE worries smaller small business taxpayers. Let's have an understanding of them intimately.