Applicability od section 44AD of Income tsc

[ashok singhee]

I am a senior citizen and have following incomes:

1.Business income under presumptive tax of 8%

2.Rent from commercial property (TDS deducted)

3.Interest on savings(TDS deducted)

My query is:

Since I have opted for section 44AD, do I still need to pay advance tax in all four /one instalments because of other incomes than business (rent and interest) ,?( Being senior citizen, I am not required to pay advance on income other than business.)

AI Summary

Presumptive taxation under section 44AD: whether advance tax installments apply when other taxable incomes exist. Applicability of section 44AD to a senior citizen who has business income under the presumptive scheme and additional rental and interest income subject to TDS, raising whether advance tax instalments remain payable for those non business incomes and how senior citizen advance tax rules and TDS interact with the presumptive taxation election.