Clarifying 44ad

Guest

Please tell me how the below part of advance tax works

Taxes are paid in advance in the following installment

On or before 15th June

On or before 15th September

On or before 15th December

On or before 15th March

The last due date is 15 March

My question is if i incur some expense within 15 March to 31 March. can i include them as an expense?

Replies (3)

"Do the Right Thing...!!!"

77792 Points Posted on 19 March 2019

Yes... Calculate as per your transactions which is payable after 15th to 31st.

Posted on 19 March 2019

So i am paying late tax under 44ad. can i include the expense which is after the due date 15 March? the expense are within 15 March and 31 March.

"Do the Right Thing...!!!"

77792 Points Posted on 19 March 2019

Yes... You can. As per Your calculations (before 15th & after 15th) You can pay AT...

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