If a person adopts the presumptive taxation scheme of section 44AE, then is he liable to pay advance tax in respect of income from business covered under section 44AE?
FAQs on Tax on Presumptive Taxation Scheme
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Advance tax liability persists for taxpayers adopting the presumptive taxation scheme under section 44AE. There is no concession regarding payment of advance tax for persons adopting the presumptive taxation regime under section 44AE; such taxpayers remain liable to pay advance tax on income from the business covered by the presumptive scheme, and adoption of the presumptive computation does not remove or modify the obligation to remit advance tax instalments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Advance tax liability persists for taxpayers adopting the presumptive taxation scheme under section 44AE.
There is no concession regarding payment of advance tax for persons adopting the presumptive taxation regime under section 44AE; such taxpayers remain liable to pay advance tax on income from the business covered by the presumptive scheme, and adoption of the presumptive computation does not remove or modify the obligation to remit advance tax instalments.
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