234 b & c for itr 4s

Page no : 2

ghewarchand (assisstant) (23 Points)
Replied 13 February 2014

In presumptive taxation 234b&c is not applicable.

Shivang Chokshi (C A ) (182 Points)
Replied 14 February 2014

Rohit.. it is a general rule that when u do not maintain books and are calculating profits on presumption, then u cannot ascertain advance tax and thus cannot work out the installments of advance tax to be paid

Shivang Chokshi (C A ) (182 Points)
Replied 14 February 2014

Great analysis from deepak gupta !!

Rohit Gupta (Audit Executive) (271 Points)
Replied 14 February 2014

Dear Shivang,

The answer given by Deepak Gupta is the right and the complete answer of the question. I dont have any knowlege of General Rules in Income Tax Act, 1961. If you have then please provide me the link of those General Rules. Income Tax Rules are there but not for this purpose. So please clarify.

Regards

Rohit Gupta

RHT1203 @ GMAIL.COM

CA Vipul Bhandari (Professional) (66 Points)
Replied 14 February 2014

As per section 44 AD a person assessed to income under this section is not liable for the provision of chapter advance tax. (Kindly see the bare act section 44 AD for the same? And section 234 b and c is only applicable to person who is liable to pay advance tax.