In the above mentioned circumstance, Mr Ram can choose presumptive taxation Should the tax is paid on 50% of gross receipts. Hence, Ram can prefer to pay tax beneath the presumptive scheme of taxation under area 44ADA.
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Extending the repayment conditions of the bank loan may perhaps bring about further interest paid, and also late charges, which may drastically enhance the total amount of money you pay out again with a loan. Normally, personal loan renewal policies are regulated from the point out federal government. Find out more regarding your states procedures in regard to personal loan renewal, and punctiliously read through the lender’s phrases before signing a personal loan agreement.
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In spite of opting for presumptive plan under area 44ADA, taxpayer can assert portion eighty tax preserving deductions and investments.
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