Interest on tax
This query is : Resolved
09 July 2013
The assessee has income on estimated basis 44AD. He had not paid any advance tax during the P.Y.2012-13. when computing his tax liability, interest U/s. 234 will calculated or not?
09 July 2013
Section 234C is for advance tax and this section has been given relief for the person filing return under section u/s 44AD however for section 234A and 234B you have to pay tax.
Thanks and Regards
Thanks and Regards
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09 July 2013
Advance tax need not be paid by presumptive tax payer's. Hence provisions of section 234B and 234C doesn't apply to them.
Ref:- Section 44AD (4)
Ref:- Section 44AD (4)
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