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The presumptive scheme of taxation lowers the compliance stress on smaller professions and facilitates ease of carrying out company. Underneath the presumptive plan of taxation, profits/taxable revenue is presumed at 50% from the gross receipts.Even so, to supply aid to compact taxpayers from your wearisome task of protecting textbooks of account a
Nevertheless, the elevated limit will probably be available provided that the cash receipt will not exceed 5% of the entire receipt of the company or occupation as the situation might be. In the above mentioned case, Mr Ram can select presumptive taxation In the event the tax is paid on fifty% of gross receipts. For this reason, Ram can decide to
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