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In this article, we are able to Examine his taxable revenue less than standard provisions along with the presumptive scheme as underneath:
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All deductions for organization costs are considered to are already permitted. When profits are taxed at 50% in the gross receipts, the equilibrium of fifty% is considered being authorized towards the many enterprise charges in the assessee.
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Part 44ADA was released to increase the plan of simplified presumptive taxation to specified industry experts. Earlier, the presumptive scheme of tax was available only to little companies.
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