Partner at D P S A &...ย โขย 10m
For Individuals & Partnership firm only (not LLP) . Know when ๐๐๐ฑ ๐๐ฎ๐๐ข๐ญ is applicable to you & about ๐ฉ๐ซ๐๐ฌ๐ฎ๐ฆ๐ฉ๐ญ๐ข๐ฏ๐ ๐ญ๐๐ฑ๐๐ญ๐ข๐จ๐ง For FY 2023-24, the presumptive taxation limits are as follows: If you fall within the limits and pay tax accordingly, you are exempt from a tax audit. โก For small businesses under Section 44AD, the limit has increased from Rs. 2 crore to Rs. 3 crore, with income to be declared as 8% of turnover, or 6% for digital receipts. โก For professionals like doctors and lawyers under Section 44ADA, the limit has been raised from Rs. 50 lakh to Rs. 75 lakh, with income to be declared as 50% of turnover. The increase in limits is subject to a condition that 95% of the receipts must be through recognised banking channel in both the above cases
Partner at D P S A &...ย โขย 10m
Dear business๐ please note your tax audit applicability โก๏ธEvery business, including private limited companies, individuals, and partnership firms (excluding those opting for the presumptive taxation scheme), is subject to a tax audit ifTotal sale
See MoreHey I am on Medialย โขย 4m
๐ฅ๐๏ธ BJP announced No Tax On businesses and startups Upto 2 Crores turnover ๐ฐ๐ฎ๐ณ๐ โข Presumptive Taxation ( Section 44AD ) For Small Businesses: Individuals, HUFs, and partnership firms (except LLPs) can opt. 1= Taxable Income Presumed: โข 8% o
See MoreI will rule the worl...ย โขย 6m
Bank of Baroda shares in focus as lender to raise funds via long-term bonds :- Bank of Baroda shares closed 2.07% lower at Rs 250.65 on Wednesday against the previous close of Rs 255.95 on BSE. Total 3.05 lakh shares of Bank of Baroda changed hands
See MoreChartered Accountant...ย โขย 2m
The Government of India has revised the investment and turnover limits for MSME classification. As per the latest notification, the new limits are: Investment criteria โ Micro Enterprises: Up to โน2.5 crore (earlier โน1 crore) โ Small Enterprises
See MoreIncome Tax & GST Con...ย โขย 3m
๐ Everything You Need to Know About TAX AUDIT in Just 5 Minutes! ๐๐ก ๐ What is a Tax Audit? A tax audit is a detailed examination of a taxpayerโs books of accounts to verify: โ Income & Deductions โ Compliance with the Income Tax Act, 1961 โ Prop
See MoreFounder Interviews @...ย โขย 5m
GST Compliance: 5 Crucial Steps For Strong Foundation Of Early-Stage Startups ! 1. Have a Track of Your Receipts / Income / Inflow 2. Be Aware of GST Registrations Limit in Your State 3. Do Not Park Your Receipts in You Personal Savings
See MoreChartered Accountantย โขย 9m
๐จ๐ฃ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐๐ถ๐บ๐ถ๐ ๐ง๐ผ ๐๐ฒ ๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ๐ฑ ๐๐ฟ๐ผ๐บ โน๐ญ ๐๐ฎ๐ธ๐ต ๐ง๐ผ โน๐ฑ ๐๐ฎ๐ธ๐ต ๐๐ผ๐ฟ ๐๐ฒ๐ฟ๐๐ฎ๐ถ๐ป ๐๐ฎ๐๐ฒ๐ด๐ผ๐ฟ๐ถ๐ฒ๐ The National Payments Corporation of India (NPCI), which manages UPI, has raised the per-transac
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starting a pos software for retail shops through which they can list their inventory on all the ecommerce platforms and get orders from any platform having their single offline shop's inventory it will increase their inventory turnover ratio very mu
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