Adavnce tax 44ad
This query is : Resolved
30 January 2015
AY 2014-15 I paid 90,000 as self assessment tax. I filed returned us44AD presumptive income.
I received a letter from Income tax dept today to deposit advance tax for 2015-16 else an order u/s 210 of IT Act may be passed.
Am I liable to pay advnace tax in this as I files returned under 44AD. What reply I should give to IT Dept.
I received a letter from Income tax dept today to deposit advance tax for 2015-16 else an order u/s 210 of IT Act may be passed.
Am I liable to pay advnace tax in this as I files returned under 44AD. What reply I should give to IT Dept.
31 January 2015
As per section 44AD(4) advance tax provisions are not applicable on income shown u/s 44AD. However if you are showing other income as well i.e. income from other sources etc. and tax payable on such other income is 10,000/- or more than there will be an advance tax liability.
Advance tax is not applicable only on presumptive income portion.
Advance tax is not applicable only on presumptive income portion.
31 January 2015
advance tax applicable if your tax liability is over rs.10000/-
tax on presumptive income not applicable.
tax on presumptive income not applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- GST Rate for Catering Services
- Cash balance limit and property purchases limit
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
