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In the above illustration, the overall receipt is under the revised/increased presumptive limit of Rs. seventy five lakh as well as the cash receipt is less than 5% of the total receipts.
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Returns thirty-working day refund/alternative 30-day refund/substitution This product could be returned in its primary ailment for a full refund or alternative in thirty times of receipt. You might get a partial or no refund on used, damaged or materially distinct returns. Study total return coverage
No, it is not Obligatory to opt Portion 44AE, it is actually optional, if you choose for regular provisions, Then you definitely might have to keep up guides of accounts and acquire exactly the same audited.
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In case of Part 44AE, if taxpayer is really a partnership firm, income and desire paid get more info out to companions is allowed as deduction from prescribed income previously mentioned