You should note each and every exertion is manufactured making sure that the enclosed information and facts is correct; however, from the party of an mistake, the successful quantities and prize amounts from the official documents of your Ga Lottery Corporation shall be managing.
If your taxpayer simply cannot go with a presumptive profits scheme for your 5 years, i.e. he has not complied with section 44AD(4), and his total money exceeds the amount not chargeable to tax, He's liable to keep up books of accounts.
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The federal government has launched the presumptive taxation scheme below segment 44AD to provide relief to small taxpayers getting enterprise income.
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The constraints that the taxpayer couldn’t opt with the presumptive profits scheme for 5 years will likely be applicable only when he declares the earnings lower than 8% or six%.
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