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[44] The crucial element aim of CP Foods as well as the SSSC is to make certain that abuse of workers and damage to the maritime ecosystem in the Gulf of Thailand and Andaman Sea is a matter on the earlier, and to revive belief from the market.
Exactly what is presumptive taxation? A presumptive taxation is actually a process during which a government assumes a certain percentage of the turnover/gross receipts as your taxable income no matter the charges incurred.
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Deduction of remuneration will not be allowed In the event the companies cash flow are taxed beneath the presumptive taxation segment 44AD or 44ADA.
Complete advance tax can be compensated by previous installment of progress tax i.e., 15 March of a calendar year, in case of failure to do so, desire is leviable @ 1% on shortfall as per Part 234C
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Area 44ADA delivers a straightforward method of taxation for little pros. Section 44ADA offers a plan of presumptive taxation for revenue and gains arising from professions mentioned below Portion 44AA(one) of your Profits Tax Act, click here 1961.
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Generally, an individual carrying on business enterprise or job maintains textbooks of accounts and prepares a balance sheet plus a income or reduction account to understand the fiscal placement of his business enterprise or career for the money year.
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