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of <h1>Amendment to Section 44AD: Applicable Percentage Reduced from 8% to 6% for Certain Transactions.</h1> Section 44AD of the Income-tax Act was amended by the Finance Act, 2017. The amendment involves a proviso to sub-section (1), which changes the applicable percentage from eight percent to six percent. This adjustment applies to the total turnover or gross receipts received via account payee cheque, account payee bank draft, or electronic clearing system through a bank account during the previous year or before the due date specified in sub-section (1) of section 139 for that year.
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