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Total progress tax could be compensated by past installment of advance tax i.e., 15 March of a 12 months, in the event of failure to do so, interest is leviable @ 1% on shortfall According to Part 234C
The earliest verified incidence on the identify Lavapura is on silver coins inscribed "lava" over the obverse and "pura" around the reverse inside of a Pallava-derived script from the seventh or eighth century; several these kinds of cash were being recovered in 1966 from the hoard present in an ancient jar in U Thong.[nine][ten]
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Hence the taxpayer can decide for the presumptive taxation scheme underneath segment 44ADA and also the taxable profits chargeable is 50% of the overall receipts.
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