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In case the pros claim their income to be less than fifty% in their gross total receipts and also should they exceed the the limit of gross receipt, then they can not choose presumptive taxation.
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Whole advance tax may be compensated by last installment of progress tax i.e., fifteen March of the calendar year, in case of failure to take action, interest is leviable @ one% on shortfall as per Portion 234C
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Profits from the career is offered at a lower fee than fifty% in the gross receipts (i.e., the fees to generally be claimed is in excess of 50% from the gross receipts) and the entire profits is over The essential exemption.
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Be sure to evaluation the laws in the condition To find out more with regards to the implications of not repaying a payday personal loan.