Applicability of 234c for 44ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2014 Sir,

Please clarify the following issue:

Assesse filed Income Tax Returns for Assessment Year 2014-15 in Form 4S for presumptive income declared u/s 44AD. But he has paid tax of Rs25000/- He has not paid any advance tax. Is he liable to pay advance tax u/s 44aAD and he is liable to pay interest u/s 234C. In assessment order Income tax department send notice to pay interest u/s 234C. Return is filed with due date i.e.31/07/2014. Please give reply the assessment order is correct. If not correct what steps to take to against order passed. Please give reply immediately.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 October 2014 no. 234B/234C is not applicable on 44AD clients. apply for rectification of the assessment order.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2014 Sir,
Thank you for your reply. Please give the procedure for apply for rectification of the assessment order. I am waiting for your quick reply.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2014 Sir,
Thank you for your reply and I have received one more reply from one of the experts in this regard if Assesse having any other income along with 44AD, the assesse is liable to pay advance tax and interest U/s 234C will be applicable. Which version is correct. There should be only one answer. Please give correct answer in this matter.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 October 2014 two different queries will results in two different opinions.

Read the query you raised here. It talks about offering income to taxation under 44AD. You made no reference to other incomes. So the response was restricted to 44AD provisions. To expect a complete response, you need to structure your query properly.

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2014 Sir,
Thank for your reply to extension of my query Assesse having Rental Income and Income from Others Sources also. Please give your valuable answer and give what further steps we have take regarding the Assessment order.