Discover and read the best of Twitter Threads about #44ADA
Most recents (2)
Let's continue:
THE LEGENDARY SECTION 44ADA - A MASTER THREAD.
Presumptive scheme of tax
Under the presumptive scheme of taxation, profits are presumed at 50% of the gross receipts.
#remotework #44ADA #presumptivetaxation
1/n
THE LEGENDARY SECTION 44ADA - A MASTER THREAD.
Presumptive scheme of tax
Under the presumptive scheme of taxation, profits are presumed at 50% of the gross receipts.
#remotework #44ADA #presumptivetaxation
1/n
Eligible Assessees
Individual, HUF and Partnership resident in India.
2/n
Individual, HUF and Partnership resident in India.
2/n
Turnover Limit & Eligible professions
Professionals mentioned below, whose total gross receipts are less than INR 50 lakh in a year can avail benefit of the presumptive taxation scheme.
3/n
Professionals mentioned below, whose total gross receipts are less than INR 50 lakh in a year can avail benefit of the presumptive taxation scheme.
3/n
A Comprehensive Guide on Tax for Freelancers
A thread..
#incometaxindia #44ADA #GST
Part 1 - GST v. Income tax
A thread..
#incometaxindia #44ADA #GST
Part 1 - GST v. Income tax
First thing you need to understand is that Income Tax and GST are 2 completely different Acts and tax different things. Let's illustrate quickly with a simplified example.
1/n
1/n
Example - GST v Income Tax
Mr. India earns INR 1 crore by selling services to Indian parties. This is professional income for Mr. India. GST on these services applies at 18%.
2/n
Mr. India earns INR 1 crore by selling services to Indian parties. This is professional income for Mr. India. GST on these services applies at 18%.
2/n
