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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.
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which chapter
https://www.caclubindia.com/forum/section-44b-172-a-comparison-200837.asp
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
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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