Examine This Report on 86 cash
Examine This Report on 86 cash
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“This absolutely doesn’t odor excellent,” mentioned previous federal prosecutor David B. Smith, the creator of “Prosecution and Defense of Forfeiture Circumstances.” “They're able to’t say, ‘you demonstrate me This is often legit money’ — that’s not the law, and no judge will probably let them do this.”
One particular lakh as revenue tax. This amount of money should have been compensated in Every of the two preceding monetary years for which the cut-off date to file return of revenue under subsection section 139(1) of your mentioned Act has expired.
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Ans. One won't have to cumulatively calculate the taxable provides by merging values of the earlier month. One needs to only find the taxable provides of the present month to ascertain if it exceeds Rs. fifty lakhs. If Of course, a person needs to adjust to this provision.
♦ Provision starts off with non-obstante clause :- which implies the provision specified in this rule will prevail
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Therefore if in almost any month, the limit of Rs. fifty lakhs just isn't crossed though the turnover is much more than Rs. six crores in the economical 12 months, Rule 86B doesn't need to be complied with.
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