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In the above scenario, Mr Ram can opt for presumptive taxation In case the tax is paid on fifty% of gross receipts. Therefore, Ram can opt to pay out tax underneath the presumptive scheme of taxation below segment 44ADA. Set an inform now, and we’ll tell you when it gets much better. And with our everyday summaries, you’ll never skip out on th
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Section 44AD – According to Part 44AD, in which a taxpayer opts for presumptive taxation scheme for almost any in the money yr he is required to carry on to decide for the same for future five yrs. If he fails to do so, he won't be eligible to go with presumptive taxation plan u/s 44AD for 5 a long time succeeding the calendar year by which he op