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Authorised representative usually means a individual who signifies An additional individual for the charge just before a tribunal or any authority constituted below any legislation. It does not incorporate an personnel of the person so represented or a one who is carrying over the profession of accountancy
No, It's not at all compulsory to opt Section 44AE, it is optional, if you choose for typical provisions, Then you really might require to maintain publications of accounts and have exactly the same audited.
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Right after deciding on presumptive taxation, In the event your cash flow goes further than the set limit then It's important to Obtain your books audited.
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Presumptive taxation scheme lets the taxpayers declare their taxable money in a prescribed level no matter real profit/gains and subsequently relieves them with the stress of protecting regular textbooks of account and receiving the same audited.
Area 44ADA was introduced to increase the scheme of simplified presumptive taxation to specified gurus. Before, the presumptive plan of tax was readily available only to little corporations.
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