Interest and itr 4
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2013
Dear Sir,
In of a case, partnership firm opting section 44AD in ay 2013-14, and self assessment tax coming to about 45000/-. I have downloaded itr 5 and prepared. when I clicked on calculate tax button it calculated selfassessment tax but not calculated the interest on tax.
Whether it is happening due to my firm is opting 44ad
or
it is malfunction of excel utility.
I have download and prepared it two times but result is same.
Whether I should deposit only self assessment tax and file my return without depositing interest.
In of a case, partnership firm opting section 44AD in ay 2013-14, and self assessment tax coming to about 45000/-. I have downloaded itr 5 and prepared. when I clicked on calculate tax button it calculated selfassessment tax but not calculated the interest on tax.
Whether it is happening due to my firm is opting 44ad
or
it is malfunction of excel utility.
I have download and prepared it two times but result is same.
Whether I should deposit only self assessment tax and file my return without depositing interest.
Dintakurthi Tirumala
(Expert)
14 July 2013
For assessess who offering their income as per section 44AD is exempted for payment of advance tax. So interest as per section 234B and 234C for such assesses will not apply and not liable for payment.
So due to the option of section 44AD income your excel utility doesn't computed interest on tax it not the mistake of excel utility or its formulas etc...
OM SAI SRI SAI JAI JAI SAI
So due to the option of section 44AD income your excel utility doesn't computed interest on tax it not the mistake of excel utility or its formulas etc...
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
