No concession in payment of advance tax. Similar shall be compensated in 4 installments as per typical progress tax provisions
[44] The crucial element purpose of CP Foods plus the SSSC is to make certain abuse of workers and harm to the maritime ecosystem from the Gulf of Thailand and Andaman Sea is a matter of the past, and to revive belief from the field.
What's presumptive taxation? A presumptive taxation can be a system where a authorities assumes a certain percentage of the turnover/gross receipts as your taxable money regardless of the expenditures incurred.
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The pursuit ongoing alongside the twin carriageway until finally the vehicle was eventually brought to the managed end by officers.
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In the above circumstance, Mr Ram can go for presumptive taxation In the event the tax is compensated on fifty% of gross receipts. For this reason, Ram can prefer to fork out tax under the presumptive scheme of taxation underneath area 44ADA.
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The freelancer is, as a result unable to submit any more expense statements. Nevertheless, he / she continues to be qualified to deduct Chapter VI-A costs for such things as mediclaim premiums and LIC subscriptions.
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Partnership firms (Take note that restricted legal responsibility partnerships usually are not qualified to go for Area 44ADA)