As a result the taxpayer can decide with the presumptive taxation scheme underneath segment 44ADA as well as the taxable income chargeable is fifty% of the entire receipts.
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In spite of opting for presumptive plan under part 44ADA, taxpayer can claim section 80 tax read more saving deductions and investments.
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Industry experts described inside the portion can pay tax on their gross receipts under portion 44ADA, and they might select this plan only if their total income isn't going to exceed Rs.75 lakhs/fifty lakhs.
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