Interest for 44ad
This query is : Resolved
Guest
Guest
(Querist)
07 September 2011
If an individual has salary income, house property income, bank interest and presumptive business income u/s 44AD, and has a tax of amounting greater than Rs.10,000. Will interest u/s 234B and 234C will be applicable?
07 September 2011
yes interest leviable.
Guest
Guest
(Querist)
07 September 2011
Please explain, will presumptive income be included for calculating interest.
07 September 2011
Yes. Total tax payable is the creteria for determing interest payable and not what forms part of income.
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