Demand u/s 1431a
This query is : Resolved
08 September 2014
a senior citizen having income from business& proff. (ay 13-14)under 44ad is rs 474000 and salary income rs.120000, house prop. income is 54600 & also income from other sources is rs.59705. my question is whether assessee had to pay advance tax or not and interest u/s 234B,C
08 September 2014
According to section 44AD(4)provisions of chapter XVIIC relating to advance tax are not applicable in case of income declared u/s 44AD. Therefore no interest can be levied u/s 234B and C.
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