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
Message likes :
1 times
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)
Message likes :
1 times
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
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Tax liability on income of freelancer
- SALE BILL AGAINST GOODS RETURN
- Loan by Partnership Firm
- STCG FOR GOLD ETFs
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
