loss from business & profession amt of RS. (177564)
book profit u/s115jb 21120
+ cess 3% 634
Total comes to 21754
DOUBT :-
Whether section 234b & 234 c aplicable?????????????????????
CA VISHAL L KHATRI (PRACTICING CA) (123 Points)
07 September 2011loss from business & profession amt of RS. (177564)
book profit u/s115jb 21120
+ cess 3% 634
Total comes to 21754
DOUBT :-
Whether section 234b & 234 c aplicable?????????????????????
Amit Gupta
(Loosening Myself)
(1508 Points)
Replied 07 September 2011
Yes.assessee is liable for payment of advance tax and thus for interest on late deposit
Pradip Shaw
(Practice)
(227 Points)
Replied 07 September 2011
234b & c are applicable when adance tax payment is required. so in your case both are applicable,
but if your business fall under 44AD and profit declere >+8%, then though tax exceeds Rs. 10000/-, no need to pay any advance tax.