Not known Details About 44 cash
Not known Details About 44 cash
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In the above illustration, the entire receipt is underneath the revised/increased presumptive Restrict of Rs. 75 lakh as well as the cash receipt is a lot less than five% of the whole receipts.
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Experts stated in the segment will pay tax on their gross receipts beneath portion 44ADA, and they're able to go for this scheme only if their overall income doesn't exceed Rs.seventy five lakhs/fifty lakhs.
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The limit is enhanced to INR seventy five lakhs if the overall volume obtained in cash will not exceed five percent of the total gross receipts of these past year.
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