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In the above mentioned situation, Mr Ram can choose presumptive taxation Should the tax is paid on 50% of gross receipts. As a result, Ram can choose to fork out tax beneath the presumptive scheme of taxation below segment 44ADA. 

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Segment 44ADA –  Regular publications of accounts are being maintained and get them audited if profits exceeds essential exemption limit.

Virtual assistants are in substantial demand from customers, but it surely only is smart from an cash flow standpoint When you have the spare click here time and they are really organized, as the workload can rival full-time function. In addition, it doesn't hurt to live in an area by using a decrease price of dwelling.

Experts outlined within the portion will pay tax on their own gross receipts underneath part 44ADA, and they can choose this plan only if their complete cash flow isn't going to exceed Rs.seventy five lakhs/fifty lakhs. 

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