Can you please explain me that what is the difference between section 44B and 172 under income tax act 1961.and which section we can use for such business.
Comparison of 44B & 172 44B- Assessee has regular business activities in India 172- Irregular business activities in India
44B- Normal assessing of Income, charging section. Basically opted by Assessee on his own
172- Advance recovery of tax. Mostly initiated by department. This section overrides other provisions n hence set off also not available neither deductions of chapter VI.
However, Once Assessed under 172 for any AY, Assessee may opt for 44B in subsequent Year
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