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Though it's not probably the most rewarding facet hustle, you should be able to get a small amount of extra cash that might just make it easier to out according to your financial predicament.
Part 44AD – As per Area 44AD, where by a taxpayer opts for presumptive taxation plan for virtually any on the monetary yr he is required to continue to choose for a similar for following 5 many years. If he fails to take action, he won't be qualified to choose presumptive taxation plan u/s 44AD for five several years succeeding the yr by which he opts out. Additional, with regard to These 5 fiscal several years where taxpayer is ineligible to choose presumptive taxation scheme u/s 44AD, frequent books of account should be preserved and audit shall be carried out if complete money exceeds fundamental exemption Restrict.
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