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Advance tax

This query is : Resolved 

27 February 2016 In financial yr 2014-15 tax return of firm filed u/s 44 AD. Now in current yr turnover exceeded 1 Crore. We have not paid Advance tax. So whether adv tax with interest have to paid? It is proprietary firm with profit.

27 February 2016 yes. advance tax shall be applicable alongwith 234B and 234C interest....and so shall be tax audit.



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