44ad

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2014 Dear Sir,
I am opting section 44AD since 2 last years and in AY 2013-14 I had deposited self assesment tax of Rs. 60000/-. Now I have received intimation from local office to deposit advance tax in respect of AY 2014-15. As U/s 44AD (4) provision related to advance tax is not applicable in such case.

Now what is the remedy in my case.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 January 2014 well reply stating that advance tax provisions dont apply to your case

However, you have to ensure that you are not crossing 1 cr limit in the current year. as per the tax payment you mentioned, you are already doing business in excess of 80 lakhs

Querist : Anonymous

Querist : Anonymous (Querist)

23 January 2014 in current year my turn over would be around 60 lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

23 January 2014 in current year my turn over would be around 60 lacs.

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