dansraka.blogg.se - Contractor expenses toward income

#Contractor expenses toward income full

A scheme of presumptive taxation u/s 44AD is applicable to an Individual, HUF & a resident partnership firm (excluding LLP), engaged in any business (whether retail or wholesale or manufacturing).

1 Crore can opt for presumptive taxation provision & can offer the income for taxation 8% without maintaining the books of accounts? Whether the same provision would be applicable for the beauty parlour & catering service provider? Is it applicable to contractor only? Opinion: Whether person doing business in wholesale and have turnover less than Rs. I am an accountant and also rendering a return filing services. The deduction under this Section is a sum of Rs 50,000/- in normal cases and if the person is suffering from a severe disability (80% or more) then a sum of Rs. X) multiple disability referred to in clauses (a), (c), & (h) of section 2 of the National Trust for welfare of persons with Austim Cerebral Palsy, Mental Retardation & Multiple Disabilities Act-1999. “Person with Disability” means a person suffering from not less than 40% of any of the disability given below:

If you ar suffering from disability, you can claim deduction u/s 80U. Act, 1961 is available to an individual who is resident and who at any time during the previous year is certified by a medical authority to be a person with disability. 60,000/- for senior citizen) whichever is lower.ĭeduction under section 80U of the I.T. The amount of deduction allowable under section 80DDB is the expenditure actually incurred or Rs.

#Contractor expenses toward income full

( iii) Full Blown Acquired Immuno-Deficiency Syndrome (AIDS) ( i) Neurological Diseases where the disability level has been certified to be of 40% and above,. (1) For the purposes of section 80DDB, the following shall be the eligible diseases or ailments : The specified disease for the purpose of section 80DDB is prescribed in Rule 11DD as under:ġ1DD. The deduction u/s 80DDB is available if the expenses for the medical treatment of specified disease or ailment is incurred by assessee on himself or on dependant. Depending upon the facts of your individual case, you need to ascertain whether the surgery expenses & subsequent monthly expenses are covered by this provision or not. There are two provisions (Section 80DDB & Section 80U) which can grant you some benefit under the Income Tax Act-1961.

Can I claim the one time medical expenses as well as monthly expenses on medicines as deduction from my income? Please guide & elaborate. The FD is done by me out of my earlier saving and also out of the funds remitted to me by my son from service abroad.

My income source consists of Interest income from my FDR & als pension income. Additionally, now I have to incur the monthly expenditure of Rs. I had recently undergone a surgery and have incurred an amount of Rs.