04 October 2015
According to the sec 44AD of the IT act, advance tax liability is not levied for the presumtive income. (I.e. Interest u/s 234B and 234C will not be levied on income u/s 44AD. But if assessee has a presumptive income as well as other sources income, then whether advance tax liability will be levied excluding income u/s 44AD or including income u/s sec 44AD?
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