Web22 Mar 2024 · Section 44AD of the Income Tax Act is a provision that allows eligible taxpayers to declare their income at a prescribed rate of 8% of the total turnover and pay … Web31 Aug 2024 · Section 44AB of the income-tax Act, 1961, which provides for tax audit of certain taxpayers, has been amended in the recent past in order to relax the compliance burden on small taxpayers. ... In respect of sec 44AA(2)(iv) of the Act, w.e.f. AY 2024-18, the assessee shall keep/maintain such books of account & other documents, if the provisions ...
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Web11 Dec 2024 · In respect of sec 44AA(2)(iv) of the Act, w.e.f. AY 2024-18, the assessee shall keep/maintain such books of account & other documents, if the provisions of Sec. 44AD(4) are applicable {i.e. withdrawal of benefit u/s 44AD for next 5 A.Y.(s)} and his income exceeds the maximum amount which is not chargeable to income-tax. Web9 Aug 2024 · CA Mayur J Sondagar Aug 9, 2024 Views 1606594 Applicability of Section 44AA/44AB/44AD of Income Tax Act, 1961-2024 * The payment or receipt, by a cheque … passo en italiano
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WebFinance Act 2024: The threshold limit of Rs 1 crore turnover for a tax audit is proposed to be increased to Rs 5 crore with effect from AY 2024-21 (FY 2024-20) if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer’s cash payments are limited to 5% of the aggregate payments. Web16 Aug 2024 · Penalty for not maintaining books of accounts- Section 44AA of Income Tax Act. If the taxpayers fail to maintain accounting records as per the requirement of section … Web25 Oct 2024 · Section 44AA prescribes the mandatory requirement for the maintenance of books of account for the purpose of Income Tax [1]. This section prescribes the minimum … お盆 いう