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In the above scenario, Mr Ram can go for presumptive taxation if the tax is paid out on 50% of gross receipts. Hence, Ram can prefer to pay out tax underneath the presumptive scheme of taxation under part 44ADA. 

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which, inside our opinion, need to be answered inside the detrimental. Report 2291, R. C. S. 1925, provides that: "The clerk shall continue to keep a movement docket in which he shall enter each motion filed in his courtroom, the names of your events and their attorneys, a quick statement of its character, and the volume of the accommodate during which it is created if it pertains to a accommodate pending. * * * Detect of the movement in the accommodate pending is provided by submitting the movement and its entry in the movement docket through the term. * * *" Though we don't deem it essential to determine irrespective of whether, immediately after dismissal and before reinstatement, the situation had the status of "a go well with pending" in the which means in the statute, still we're inclined towards the check out expressed in Hexter v. Pratt (Tex. Com. Application.) 10 S.W.(2d) 692, 694, with reference to the scenario With this issue, where the court docket explained: "It [the judgment of dismissal] is just what it purports being, a perseverance of an absence of diligence in prosecuting the go well with for which it really is stricken in the docket. It effectually put an stop to The actual continuing, but was entirely ineffectual to ascertain the merits with the declare therein asserted." Nevertheless, if we suppose, Though we don't so come to a decision, that the situation, after currently being dismissed and just before its reinstatement, was "a suit pending," within the indicating of your statute, nevertheless, underneath the situation, defendant wasn't frequented with statutory or constructive see on the proceedings, due to the fact no movement to reinstate was at any time submitted or entered on the motion docket, and it is just when the statute During this regard is complied with that constructive see of such a motion is frequented upon the adverse bash. So inside the absence of either precise or constructive observe of the proceedings that resulted during the rendition of judgment from him, we expect defendant showed fair justification for his absence; Also, he exhibited meritorious defenses to plaintiff's explanation for motion, and we fall short to find out how plaintiff may very well be materially prejudiced by granting defendant a fresh demo. ...

Section 44ADA offers a straightforward approach to taxation for compact pros. Area 44ADA offers a plan of presumptive taxation for profits and gains arising from professions outlined beneath Segment 44AA(one) from the Earnings Tax Act, 1961.

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Will I be allowed any deduction for virtually any expenditure incurred for investments and insurance policy top quality beneath Section 80C and 80D, if I go for presumptive taxation?

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