Section 44AD Benefits

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Nitin George (Querist)
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05 June 2022 Hi

Can we avail benefits under section 44AD if the principal business of the partnership is renting out machinery & equipment towards infrastructure and allied services. Also, when do we have to pay advance tax for a financial year under this section.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 June 2022 Yes, Any person opting for the presumptive taxation scheme under section 44AD is liable to pay whole amount of advance tax on or before 15thMarch of the previous year.

Nitin George

Nitin George (Querist)
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05 June 2022 You mean by March 15, 2023 for the current financial year? Also, does the above mentioned business be eligible for availing section 44AD benefits.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 June 2022 15th March 23 for the current financial year.
Any business eligible for 44AD.

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