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CA Dipika Pathak

Partner at D P S A &... • 1y

For Individuals & Partnership firm only (not LLP) . Know when 𝐓𝐚𝐱 𝐀𝐮𝐝𝐢𝐭 is applicable to you & about 𝐩𝐫𝐞𝐬𝐮𝐦𝐩𝐭𝐢𝐯𝐞 𝐭𝐚𝐱𝐚𝐭𝐢𝐨𝐧 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. ➡ 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. ➡ 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

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CA Dipika Pathak

Partner at D P S A &... • 1y

Dear business🔊 please note your tax audit applicability ➡️Every 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

1 Reply

Nitish Kumar

No • 4m

UltraTech Cement on April 28 reported 10% rise in consolidated net profit at Rs 2,482 crore for the quarter ended March 31, 2024. The Aditya Birla Group declared dividend of Rs 77.5 per share.

Anonymous

Hey I am on Medial • 7m

🔥🕉️ BJP announced No Tax On businesses and startups Upto 2 Crores turnover 💰🇮🇳🚀 • Presumptive Taxation ( Section 44AD ) For Small Businesses: Individuals, HUFs, and partnership firms (except LLPs) can opt. 1= Taxable Income Presumed: • 8% o

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Ishita Singh

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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

CA Kakul Gupta

Chartered Accountant... • 4m

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 ✅ Micro Enterprises: Up to ₹2.5 crore (earlier ₹1 crore) ✅ Small Enterprises

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Sai Vishnu

Income Tax & GST Con... • 5m

🚀 Everything You Need to Know About TAX AUDIT in Just 5 Minutes! 📊💡 🔎 What is a Tax Audit? A tax audit is a detailed examination of a taxpayer’s books of accounts to verify: ✅ Income & Deductions ✅ Compliance with the Income Tax Act, 1961 ✅ Prop

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Ph • 1y

1.Axis Bank’s Employee Happiness Initiative Axis Bank has implemented new initiatives and policies aimed at enhancing career development and skill-building for its employees. 2. Prime Minister Modi’s Asset Declaration PM Narendra Modi declared total

nuthan kalyan

Data Enthusiast • 20d

hii actually I have my ai application. and I used gemini for the ai model. as am scaling my application I had to use gemini more. so what I did was I created multiple projects and in each project i created a single key such that the limits are only

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Ashutosh Mishra

Chartered Accountant • 12m

𝗨𝗣𝗜 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗟𝗶𝗺𝗶𝘁 𝗧𝗼 𝗕𝗲 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗙𝗿𝗼𝗺 ₹𝟭 𝗟𝗮𝗸𝗵 𝗧𝗼 ₹𝟱 𝗟𝗮𝗸𝗵 𝗙𝗼𝗿 𝗖𝗲𝗿𝘁𝗮𝗶𝗻 𝗖𝗮𝘁𝗲𝗴𝗼𝗿𝗶𝗲𝘀 The National Payments Corporation of India (NPCI), which manages UPI, has raised the per-transac

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Desi Founder

Founder Interviews @... • 7m

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

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