Deduction of remuneration isn't authorized In case the firms money are taxed underneath the presumptive taxation area 44AD or 44ADA.
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Additionally, you will be necessary to shell out curiosity below Sections 234B and 234C If you don't spend advance tax via the fiscal year's fifteenth of March.
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Presumptive taxation strategies to relieve little taxpayers are provided underneath Section 44AD, 44ADA and 44AE. While Segment 44ADA is for gurus Part 44AD and 44AE issues smaller enterprise taxpayers. Let's comprehend them intimately.
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If the industry experts assert their revenue to generally be less than 50% in their gross overall receipts and also if they exceed the the Restrict of gross receipt, then they can't choose presumptive taxation.
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