Dear sir,
If a senior citizen have salaried income, interest income, and income from business or profession. On his business income TDS has been deducted but now he is filling his income tax return the income tax software shows interest on advance tax while TDS has been deducted on Income from Business or Professional.
My question is that
when the tds has been deducted on income from business or profession it means we have deposit income tax on income from business or profession now why is advance tax liabilities arise.
Dear sir,
If a senior citizen have salaried income, interest income, and income from business or profession. On his business income TDS has been deducted but now he is filling his income tax return the income tax software shows interest on advance tax while TDS has been deducted on Income from Business or Professional.
My question is that
when the tds has been deducted on income from business or profession it means we have deposit income tax on income from business or profession now why is advance tax liabilities arise.
Hello,
When an assesse has a turnover of One Crore Eighty Six lakhs (1,86,00,000),
and willing to show a profit of 8%, then is it better to file under section 44Ad or is it better to go for tax Audit report.
Thanks in advance.
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