i want to know whether there is any relief u/s 44AD to Practicing Docters for non payment of Advance Tax u/s 234B & 234C
6 Replies
Alok Siddapur
(Consultant)
(229 Points)
Replied 12 May 2011
Yes. If the gross receipts during the Financial year is less than or equal to 60Lakhs then advance tax need not be paid in respect of such business.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 May 2011
I guess practicing doctors / professonals are not covered u/s 44AD, so they have to pay advance tax as per their taxable income calculation.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 May 2011
also 44AD does not allow you to reduce your actual profit , its a measure to fix the audit norms for small tax payer, if the profit is below 8% then audit u/s 44AB is compulsary, but it does not allow anybody to not declare his taxable income above 8%
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8639 Points)
Replied 12 May 2011
Doctors are not covered u/s 44AD.
Doctors are professionals and not businessman. So, the question of 44Ad does not arise.
If section 44AD does not arise, then no question of exemption from advance tax provision.
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 12 May 2011
advance tax is compulsory for such profession
Sandeep Pandey
(CA FINAL)
(1306 Points)
Replied 13 May 2011
| Originally posted by : CA Devanshi Gandhi | ||
 |
advance tax is compulsory for such profession |
 |
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