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The freelancer is, as a result struggling to post any more cost statements. Having said that, he / she remains eligible to deduct Chapter VI-A fees for things like mediclaim rates and LIC subscriptions.
Entire progress tax may be compensated by previous installment of progress tax i.e., 15 March of a 12 months, in case of failure to take action, interest is leviable @ one% on shortfall as per Segment 234C
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Published down value of property can be computed like depreciation is and it has always been claimed to the belongings
Many of us use these, and so they encourage them as an alternative to the superrich outlets. I constantly caught with superrich orange until just lately and now use Vasu (simplicity of place).
The phrases for a few more info of the consents have altered. To carry on to obtain data you will need to update your consents.
In the above mentioned illustration, the full receipt is down below the revised/amplified presumptive limit of Rs. seventy five lakh and the cash receipt is lower than five% of the total receipts.
Right after opting for presumptive taxation, In case your money goes outside of the set limit then You need to Get the textbooks audited.
Section 44AE – Standard textbooks of account shall be maintained and audit shall be carried out regardless of turnover or profits.