Am I required to pay advance tax when I'm having income from House Property, IFOS & PGBP u/s 44 AD ????
Give me suggestions
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Advance Tax Liability
Replies (8)
No need to pay advance tax for income u/s 44AD but tax arises due to other income required to be paid.
Agreed with Expert Rashmi, with one correction as: Starting financial year 2016-17 taxpayers who opt for presumptive scheme have to pay whole amount of their advance tax in one installment on or before 15th March. (even upto end of the month)
Yes i forgot that.Thanks for correcting.
Most Welcome
So that even if I opt for 44 AD , i have to pay advance tax on Income from HP and IFOS from 1st installment, is it right?
Yes, you have to pay on both income before 15 June.
Thank you
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