Whether interest liable u/s 234b & 234c if return u/s 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2012
If a person filled his return u/s 44AD and filled return after due date and if tax liability is arrise Rs. 14000/-. Whether Interest u/s 234B & 234C liable to pay by person or not ?
CA PARAS BAFNA
(Expert)
28 February 2012
Interest U/s 234B and 234C is not applicable. In Case of 44AD income, Interest
U/s 234-A , will only be charged.
U/s 234-A , will only be charged.
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CA. RAVIKUMAR
(Expert)
28 February 2012
Advance tax concept not applicable to the Presumptive taxation(i.e 44AD 44AE Etc..) hence there is no question of interest under sec 243B And 234C
but the 234A is Applicable (i.e Interest for delay in filing the income tax return )
but the 234A is Applicable (i.e Interest for delay in filing the income tax return )
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CA Prashant Gupta
(Expert)
04 March 2012
234A will only be applicable
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