Listing your total offered profits together with wages, retirement, investments, and rental Attributes. You aren't necessary to reveal money that is definitely alimony, boy or girl assist or separate routine maintenance Except you want to use that income to qualify for just a loan.
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Deduction of remuneration just isn't allowed When the firms revenue are taxed beneath the presumptive taxation portion 44AD or 44ADA.
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Part 44ADA – Normal publications of accounts are being managed and get them audited if earnings exceeds essential exemption Restrict.
The penned down worth (WDV) of property for tax purposes shall be calculated as on the depreciation is authorized yearly. This WDV will be the worth of your asset for tax functions in the case wherever the asset is sold later on by the assessee.
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No concession in payment of progress tax. Similar shall be paid in four installments as per common advance tax provisions
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