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...
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."