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Advance tax installment for 44AD

05 May 2020

Dear Sir/madam

What is the due date of advance tax if a person is opting presumptive taxation under 44AD and he also earns salary income.

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6 Replies

sabyasachi mukherjee (27713 Points)
Replied 05 May 2020

Which assesment year?

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Eshita S Shah (Practicing CA ) (75 Points)
Replied 05 May 2020

Any person opting for the presumptive taxation scheme under section 44AD is liable to pay whole amount of advance tax on or before 15^thMarch of the previous year. If he fails to pay the advance tax by 15^th March of previous year, he shall be liable to pay interest as per section 234C

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 05 May 2020

Yes... I agreed to Mr EshIta shah.

Ruchi Vadhavana (12 Points)
Replied 05 May 2020

Thanks Esh*ta ji... just want to confirm even if he has salary income still 15th march will be the due date of advance tax.. right?

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1448 Points)
Replied 05 May 2020

Section 44ad is only for pgbp.
if he has salary income then pay the advance tax on salary only.... in 4 installment...
and pay adv. tax in 1 installment for pgbp if eligible for 44ad...