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Interest for 44ad

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Guest (Querist)
07 September 2011 If an individual has salary income, house property income, bank interest and presumptive business income u/s 44AD, and has a tax of amounting greater than Rs.10,000. Will interest u/s 234B and 234C will be applicable?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
07 September 2011 yes interest leviable.
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07 September 2011 Please explain, will presumptive income be included for calculating interest.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
07 September 2011 Yes. Total tax payable is the creteria for determing interest payable and not what forms part of income.
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