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Overall progress tax could be paid out by previous installment of advance tax i.e., fifteen March of a calendar year, in the event of failure to do so, interest is leviable @ 1% on shortfall as per Segment 234C
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Underneath the earnings tax rules, anyone engaged in prescribed business enterprise or profession is needed to mandatorily keep guides of account, prepare money statements and get his accounts audited. More, income/loss as per these kinds of economic statements would be considered to arrive at taxable profits right after generating essential adjustments.
No, you won't be expected to keep up books of account when you go with presumptive taxation procedure.
No concession in payment of progress tax. Exact same shall be paid out in four installments According to regular advance tax provisions
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