[ad_1] At least 25 people were killed by lightning or landslides in Bangladesh over the weekend, while millions were left homeless or homeless in low-lying areas. monsoon Officials said floods have happened in the country’s recent history. In the neighboring Indian state of Assam, at least 17 people were killed during a wave of floods that began this month, police officials said on Sunday. Several rivers in Bangladesh have reached dangerous levels and the situation has worsened due to heavy rains from the Indian mountains. arifuzzaman bhuiyanhead of state-run flood…
Tag: lakhs
Tax effect if business income exceeds 50 lakhs
[ad_1] If a person’s business receipts exceed Rs. 50 lakh – profit of Presumptive tax under section 44ADA cannot be taken. In such a case, the individual would be required to prepare a Profit and Loss Account and Balance Sheet as well as get himself audited by a Chartered Accountant. Compliance to be made in case business income exceeds Rs. 50 lakhs If business receipts exceed Rs. 50 lakhs, the following compliances need to be taken care of:- Preparation of books of accounts with balance sheet and profit and loss…