Am I required to pay advance tax when I'm having income from House Property, IFOS & PGBP u/s 44 AD ????
Give me suggestions
Thanks
8 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 14 June 2017
No need to pay advance tax for income u/s 44AD but tax arises due to other income required to be paid.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178099 Points)
Replied 14 June 2017
Agreed with Expert Rashmi, with one correction as: Starting financial year 2016-17 taxpayers who opt for presumptive scheme have to pay whole amount of their advance tax in one installment on or before 15th March. (even upto end of the month)
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 14 June 2017
Yes i forgot that.Thanks for correcting.
Balaraju N
(Article )
(39 Points)
Replied 14 June 2017
So that even if I opt for 44 AD , i have to pay advance tax on Income from HP and IFOS from 1st installment, is it right?
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 14 June 2017
Yes, you have to pay on both income before 15 June.
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