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Clause 10 of Variety 3CD demands the assessee to disclose the character of each enterprise or job completed by her or him over the previous calendar year.
Moreover, they do not reimburse the fees and stipend within just an affordable time. Reimbursement of charges normally takes more than 6 months.
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07. Is tax audit applicable for people? Tax audit is applicable for individuals who are carrying on small business or career and meet up with the turnover or gross receipts criteria specified because of the Cash flow Tax Act.
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Even in addition to supplying these rest in typical Performing hours, the firm is also opened on Saturdays resulting in violation of the regulation issued from the ICAI with regard to the most 35 Doing work several hours in per week as the general Doing the job hour of your business in per week are 45 several hours which further extends in pressure intervals for accomplishing deadlines.
Each time a stockbroker buys shares on behalf of the shopper, the securities are usually not transferred into his identify but are sent in The client’s title.
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Avoids pitfalls from a tax audit. Retain thoroughly clean and accurate information. All fiscal transactions needs to be perfectly documented. Make use of accounting program to track greater. Ensure timely tax payments and filings. Use the presumed taxation plan if you qualify.
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