- A small business administration with a turnover of less than Rs 2 crores will profit from presumptive schemes in many ways.
- Taxes should be paid on time, and tax returns should be filed correctly. As a result, it also helps with tax advantages and cash flow.
- Advance Tax is not paid four times a year for small businesses. Instead, by the 31st of March of the relevant financial year, you will pay the entire sum in one go. They also profit from the analysis of the account books.
- Composition Scheme is a convenient and straightforward scheme for small taxpayers. For taxpayers, the scheme is covered by the GST. It eliminates time-consuming GST paperwork and pays GST at a fixed rate of turnover. It is best for taxpayers with a turnover of less than a crore rupees.
- Taxes should be paid on time, and tax returns should be filed correctly. As a result, it also helps with tax advantages and cash flow.
- Advance Tax is not paid four times a year for small businesses. Instead, by the 31st of March of the relevant financial year, you will pay the entire sum in one go. They also profit from the analysis of the account books.
- Composition Scheme is a convenient and straightforward scheme for small taxpayers. For taxpayers, the scheme is covered by the GST. It eliminates time-consuming GST paperwork and pays GST at a fixed rate of turnover. It is best for taxpayers with a turnover of less than a crore rupees.
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