Presumptive income & adv tax

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Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2012 is the adv tax liability still arise when assesses declare the income of rs 7 lacs under presumptive income scheme?

is sec-234 b c is applicable or not?

if not under which section it mentioned?

Naresh Kansala

Naresh Kansala (Expert)
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08 August 2012 No liability to pay advance tax if u opt for presumptive income scheme

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 thanks.... will u say which section , so i can study in detail..

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 August 2012 Sub section 4 of Section 44AD provides that the provisions of Chapter XVII - C are NOT applicable to eligible assessee.

Chapter XVII - C deals with advance tax.

Accordingly advance tax provisions are NOT applicable to Section 44AD.

So, interest u/s 234B and 234C will not be lievied in such a case.

Naresh Kansala

Naresh Kansala (Expert)
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10 August 2012 Thanks Bhardwaj sir I was confirmed about that but section was skipped from my mind thanks for reminding.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 August 2012 You are welcome. You should use the thanks button to convey your thanks.

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