Precisely what is presumptive taxation? A presumptive taxation is often a technique by which a governing administration assumes a certain share of the turnover/gross receipts as your taxable earnings no matter the expenditures incurred.

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Composed down price of assets could be computed as though depreciation is and it has constantly been claimed around the assets

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The statement is created Each and every shell out period of time and is available to the worker through EPP and will be mailed beneath Particular situations. It is obtainable to your Agency as a result of RPCT Reporting Heart.

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The freelancer is, hence unable to submit any extra price claims. On the other hand, they is still eligible to deduct Chapter VI-A expenses for things such as mediclaim premiums and LIC subscriptions.

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In more info the event of Portion 44AE, if taxpayer is really a partnership business, salary and interest paid to associates is allowed as deduction from prescribed revenue over