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Yes, a person can assert good thing about Segment 44AD and Portion 44ADA at the same time if he/she has earnings from both career and organization.

Presumptive taxation schemes To ease modest taxpayers are furnished underneath Area 44AD, 44ADA and 44AE. Whilst Segment 44ADA is for professionals Part 44AD and 44AE problems compact business taxpayers. Allow us to have an understanding of them in detail.

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If an assessee satisfies any of the following criteria, then they must maintain books of accounts and get accounts audited under portion 44AB:

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Segment 44ADA was released to increase the scheme of simplified presumptive taxation to specified experts. Earlier, the presumptive plan of tax was accessible only to modest enterprises. 

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Portion 44AD – As per Part 44AD, in which a taxpayer opts for presumptive taxation plan for virtually any on the economical calendar year he is necessary to carry on to choose for the same for subsequent 5 decades. If he fails to take action, he won't be eligible to choose presumptive taxation plan u/s 44AD for five years succeeding the yr where he opts out. More, with respect to These five money several years the place taxpayer is ineligible to choose presumptive taxation plan u/s 44AD, common guides of account need to be taken care of and audit shall be performed if whole profits exceeds standard exemption more info limit.

Whole advance tax might be paid by final installment of advance tax i.e., fifteen March of a 12 months, in case of failure to do so, desire is leviable @ 1% on shortfall According to Section 234C