The presumptive plan of taxation minimizes the compliance burden on little professions and facilitates simplicity of executing small business. Under the presumptive plan of taxation, revenue/taxable income is presumed at fifty% with the gross receipts.
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Authorised representative usually means a one who signifies An additional particular person to get a price prior to a tribunal or any authority constituted beneath any regulation. It does not contain an personnel of the person so represented or maybe a person who is carrying over the profession of accountancy
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To incorporate up the entire number of cash and coins you've got, initial form Each and every Take note and coin In accordance with value. Generate a independent pile for each denomination after which count the amount of of each and every Monthly bill or coin value you have got.
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The freelancer is, hence unable to post any extra expense claims. Nevertheless, he or she remains eligible to deduct Chapter VI-A charges for such things as mediclaim premiums and LIC subscriptions.
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