https://www.taxtmi.com/forum/issue?id=118448 Prior to the Finance Act, 2016 amendment, Section 44AD(4) excluded eligible presumptive businesses from advance tax provisions, so interest under Sections 234B and 234C did not apply to such income for the assessment year in question; the 2016 amendment introduced a one-time advance tax obligation for presumptive income prospectively, and principles of non-retroactivity noted in cited authority support prospective application. en-us Tue, 28 Mar 2023 18:23:59 +0530 Thu, 23 Jan 2025 15:54:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118448 Prior to the Finance Act, 2016 amendment, Section 44AD(4) excluded eligible presumptive businesses from advance tax provisions, so interest under Sections 234B and 234C did not apply to such income for the assessment year in question; the 2016 amendment introduced a one-time advance tax obligation for presumptive income prospectively, and principles of non-retroactivity noted in cited authority support prospective application. Discussion-Forum Income Tax Tue, 28 Mar 2023 18:23:59 +0530 https://www.taxtmi.com/forum/issue?id=118448