Advance tax
This query is : Resolved
mitesh shah
(Querist)
27 February 2016
In financial yr 2014-15 tax return of firm filed u/s 44 AD.
Now in current yr turnover exceeded 1 Crore.
We have not paid Advance tax.
So whether adv tax with interest have to paid?
It is proprietary firm with profit.
Nikhil Kaushik
(Expert)
27 February 2016
yes. advance tax shall be applicable alongwith 234B and 234C interest....and so shall be tax audit.
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