Income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 DOES THE PROVISIONS OF ADVANCE TAX APPLY ON THE PARTIES SHOWING INCOME AS PER SEC 44AD.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 August 2013 Advance tax provisions does not apply to presumptive tax payments covered u/s 44AD.

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 but sir advance tax is to be paid where tax amount is more than RS.10000 ... so where tax amt calculated taking into consideration sec 44AD exceeds Rs.10000 advance tax provisions should apply...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 August 2013 Please study section 44AD(4) which is reproduced hereunder.
"The provisions of Chapter XVII-C shall not apply to an eligible assessee in so far as they relate to the eligible business."

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 ok....thank you sir...

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