In the above mentioned situation, Mr Ram can go with presumptive taxation In the event the tax is paid on fifty% of gross receipts. Consequently, Ram can opt to pay out tax beneath the presumptive scheme of taxation beneath section 44ADA. 

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Part 44ADA –  Standard publications of accounts are to get preserved and obtain them audited if profits exceeds basic exemption limit.

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International exchange provider companies in Bangkok are categorized into three teams: revenue exchange booths operated by banks, currency exchange chains, and impartial money changers.

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Presumptive taxation scheme relieves compact taxpayers from preserving common guides of account and have them audited. Threshold boundaries below 44AD and 44ADA amplified in Price range 2023.

Deduction of remuneration is just not authorized In the event the firms profits are taxed under the presumptive taxation portion 44AD or 44ADA.

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(“Owns” also contains goods carriage taken on use or installment wherever the amount payable remains because of)