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Partnership companies (Notice that constrained legal responsibility partnerships aren't eligible to choose Section 44ADA)

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(a) aggregate of all quantities received which include amount acquired for revenue, turnover or gross receipts in the course of the prior year, in cash, isn't going to exceed five for every cent in the explained total; and

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Use this money calculator to incorporate up the overall sum of money for frequent denominations of expenditures, cash and rolled or bagged cash in these currencies:

The limit is greater to INR seventy five lakhs if the total quantity acquired in cash doesn't exceed 5 percent of the overall gross receipts of this sort of previous calendar year.

this clause shall have outcome as if for the text “one particular crore rupees”, the words and phrases “5 crore rupees” were substituted; click here or 

In the event of Portion 44AE, if taxpayer is usually a partnership agency, salary and interest paid to companions is permitted as deduction from prescribed money previously mentioned