Who is not applicable to interest under 234B & C?I prepared an ITR 4S with Tax and Cess amounting to Rs 10645.But B & C interest is not Calculated on Calculate Tax.Can anyone Explain me why?
Menu
234 b & c for itr 4s
Replies (20)
Mr. Mohammed (applicable only 234 A for 4s)
Are you a Senior Citizen???
no mr. rohit
Dear Vinoth Kumar,
Where it is written that 234B & C is not applicable on the person filing his eturn of income in form 4S. Please clarify???
Dear , Rohit not applicable for 234 b & c (4s)
No for what sirji???
where it written. Give me the Section Number.
If the income is declared under sec 44AD Presumptive profits, then interest u/s 234 B & C is not applicable on such income.
sir in which section this is written please give me the exact section no.
If income declaeed u/s 44ad then assessee need not to deposit advancetax.
So 234b c interest not calculated in this case.
In case of income u/s 44ad and 44 ae , interest u/s 234 b and 234 c is not applicable....
hello.. can you guys please tell me.. why section 234 b and c is not applicable where person file return as per sec 44AD?
where it is written that person who declares income under sec 44ad need not require to pay advance tax ? is there any provision if yes then under which section ??
> As per sec. 2(1), "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C.
.
> As per sec. 44AD(4), the provisions of Chapter XVII-C shall not apply to an eligible assessee in so far as they relate to the eligible business.
.
> Therefore, an assessee opting for presumptive taxation scheme u/s 44AD is relieved from the requirement of advance tax payments.
.
> Accordingly, there would be no liability for interest u/s 234B and 234C
Recent Threads
- How to treat losses from f and o trading in itr
- Itr 44ad n fno
- 44ad future n options
- Total Income consideration for Surcharge calculati
- CA Inter Costing best faculty
- Ca inter best faculty
- Small transporter ITR Filing
- Filling ITR after death
- Which ITR for STCG and professional income
- Does CA Inter have negative marking
Related Threads
CAclubindia
