someone's Income is estimated us 44 AD and Assessing officer made some disallowance u/s 68 and added to the income.
he had not paid any advance tax. Is interest u/s 234B levied on his return tax...
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Interest u/s 234B
Replies (2)
under 234B, will be levied on Tax Payable of Rs. 10,000/- and above.Includes income u/s. 44AD Also.
However there is relief for 1st, 2nd & 3rd Quater advance tax payment if assessee opt for 44 AD
Yes applicable because 234B only on assessed tax under 139
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