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Additionally, you will be necessary to shell out curiosity beneath Sections 234B and 234C If you don't pay progress tax because of the fiscal 12 months's 15th of March.
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Extending the repayment conditions of a loan might end in added interest paid, along with late costs, which can significantly improve the whole volume you shell out back again over a loan. Generally, financial loan renewal insurance policies are regulated with the state government. Learn more about your states procedures in regard to bank loan renewal, and punctiliously browse the lender’s terms right before signing a mortgage contract.
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Just after picking presumptive taxation, In the event your income goes further than the set Restrict then You need to Obtain your publications audited.
Shows the financial degree of hours labored and of depart used in Each individual classification during the pay back period of time.
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Area 44AD – According to Part 44AD, the place a taxpayer opts for presumptive taxation scheme for virtually any on the financial yr he is necessary to continue to decide for a similar for next five years. If he fails to take action, he will not be eligible to opt for presumptive taxation scheme u/s 44AD for five several years succeeding the yr wherein he opts out. More, with respect to those five economical a long time in which taxpayer is ineligible to opt for presumptive taxation scheme u/s 44AD, common books of account must be managed and audit shall be executed if complete revenue exceeds basic exemption Restrict.
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