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No concession in payment of advance tax. Exact shall be paid in four installments According to typical progress tax provisions
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No, you will not be demanded to keep up publications of account once you choose presumptive taxation technique.
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Full advance tax could be compensated by final installment of progress tax i.e., 15 March of the yr, in the event of failure to take action, interest is leviable @ 1% on shortfall as per Portion 234C
Any person carrying on suitable enterprise or job less than Portion 44AD or 44AE or 44ADA and promises income lessen as opposed to prescribed earnings, will not be permitted to benefit from the reduction given for servicing of books of account and audit.
As a result the taxpayer can decide for your presumptive taxation plan less than portion 44ADA along with the taxable income chargeable is 50% of the overall receipts.
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