03 August 2025
Assessee is filing a return for A.Y. 2025-26 using ITR-3 with professional income u/s 44ADA. The assessee has paid the entire advance tax in a single instalment on 13th March 2025. The ITR-3 has calculated interest payable for deferment of advance tax u/s 234 C although he is fully compliant with section 211 (1) (b) c which exempts him from paying in 4 instalments unlike other assessees. Is there a bug in ITR-3 ?
03 August 2025
Whether there is any other incomes like capital gains (other than income declared u/s 44ADA) ?. Whether advance tax was fully paid over that income as per installments?
03 August 2025
Yes there is other income for which advance tax was paid in normal instalments. A back of envelope calculation reveals that interest u/s 234C is being calculated for the total income including 44ADA
03 August 2025
No; interest on income under presumptive scheme should not be charged for first three quarters. In that case it should be reported under 'Grievance.'