Underneath Segment 44AD of presumptive taxation, little taxpayers with lower than Rs two crore of turnover will not be necessary to maintain guides of accounts and their income are presumed to be 8% in their turnover.
No, It's not compulsory to decide Portion 44AE, it is optional, if you choose for standard provisions, Then you definately might need to take care of guides of accounts and have the exact same audited.
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Considering that Mr. P declares profits under that outlined in the presumptive income scheme through the FY 2023-24, he opts to report his revenue According to regular computation.
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To add up the total amount of cash and coins you might have, very first sort Each and every Take note and coin In keeping with worth. Make a individual pile for each denomination after which you can depend the quantity of of each and every Monthly bill or coin worth you have.
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