Pros described within the area pays tax on their own gross receipts under part 44ADA, and they're able to opt for this scheme provided that their overall profits does not exceed Rs.seventy five lakhs/fifty lakhs.
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The biweekly Statement of Earnings and Leave delivers a breakdown of the employee's gross fork out and biweekly deductions for your pay out interval and cumulative quantities for the tax 12 months. It also gives the individual's YTD calendar year-to-day go away standing to the depart calendar year and cumulative retirement deductions.
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