Advance tax under new provisions

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HITESH BHANDARI (Querist)
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25 July 2011 dear sir,
Mr. Xyz have silver and gold wholesale business, accounts are maintained by him since last 10 years. This year profit395000 (turnover1850000, net profit 34%) on which incometax after 80 c deduction15000 liable to pay. No advance tax paid by him due to this interst near about1100 also liable.
Can i avail his return under new provisions 44 AD so that his interest can exempt?
suggest.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 July 2011 44AD can be opted. If so, no need to pay advance tax as per section 44AD(4) and consequently interst under section 234A and B will not attract.

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