Categories
Pagination Scroll
Pooja Gupta

Computation of advance tax...
Hi Amlan! Saw your work on Youtube and Facebook today about making Knowledge free and am really impressed with your endeavours.

Could you please help in below case as we are not able to get any relevant information online or offline. Even Govt of India's income tax website doesn't give requisite inf...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
1.) If he registers as business , he might be able to take benefit of presumptive sections 44AD ...If he decides to continue as profession, then same benefit may not be available ( unless it is a specified profession) ...Without much information on the type of work he does, i can't comment on whethe...
  • October 12, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Amlan Dutta
1.) The services offered can fall under technical consultancy and so benefit of section 44ADA can apply treating as profession and applying presumptive taxation on 50 % of receipts

2.) For ELIGIBLE BUSINESSES , it is at 8 % using section 44AD ------ for eligible PROFESSIONS , it is at 50% using se...
  • Yesterday, 7:40 am
  • ·
  • Like
  • ·
  • Select as Answer
Ritika

Computation of advance tax...
Hi original return was filed in June 2017, it's for AY 2017-18.check for calculations of 234 b..it will be great if you let me know it is calculated..
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
...Section 234(b) guides on penal interest for non payment of advance tax i...when payment is less than 90% of advance taxes due.... .....Interest is calculated @ 1% on Assessed Tax less Advance Tax paid ..... part of a month is rounded off to a full month..... say advance tax due was 100 rs and s...
  • October 5, 2018
  • ·
  • Like
  • ·
  • Select as Answer
hanif

Computation of advance tax...
Dear Amlan...

its time for me to pay advance tax for the AY 2019-20. the question is i went to challan 280 online, i could see 3 columns, (1) Tax (rs) (2) education cess and (3) others...

i believe now the cess is increased from 3% to 4 %...do i have to pay 4% in advance tax also...if yes, what wi.....
  • Show Placeholder
  • Hide Discussion
hanif
many thanks
  • June 3, 2018
  • ·
  • Like
  • ·
  • Select as Answer
hanif
i believe it is ay 2019-20 and not 18-19
  • June 5, 2018
  • ·
  • Like
  • ·
  • Select as Answer