Advance Tax liability: threshold-based payment obligation and presumptive 44AD exemption simplifies advance tax compliance for certain taxpayers. Section 208 imposes an advance tax liability when a taxpayer's computed advance tax obligation during the financial year meets the statutory minimum, requiring payment during the year; income declared on a presumptive basis under the presumptive taxation regime for eligible businesses is exempt from advance tax for that presumptive income.
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Provisions expressly mentioned in the judgment/order text.
Advance Tax liability: threshold-based payment obligation and presumptive 44AD exemption simplifies advance tax compliance for certain taxpayers.
Section 208 imposes an advance tax liability when a taxpayer's computed advance tax obligation during the financial year meets the statutory minimum, requiring payment during the year; income declared on a presumptive basis under the presumptive taxation regime for eligible businesses is exempt from advance tax for that presumptive income.
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