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Immediately after deciding on presumptive taxation, Should your cash flow goes over and above the established limit then you have to Get the guides audited.
No concession in payment of advance tax. Very same shall be compensated in 4 installments as per regular progress tax provisions
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No, you won't be demanded to keep up publications of account after you select presumptive taxation method.
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In the event the pros assert their income for being below fifty% in their gross overall receipts and in addition if they exceed the the Restrict website of gross receipt, then they can't select presumptive taxation.
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