If a person adopts the presumptive taxation scheme of section 44AD, then is he liable to pay advance tax in respect of income from business covered under section 44AD?

If a person adopts the presumptive taxation scheme of section 44AD, then is he liable to pay advance tax in respect of income from business covered under section 44AD? https://www.taxtmi.com/manuals?id=4094 A person opting for the presumptive taxation scheme under section 44AD must pay the whole advance tax liability for the business income covered by the scheme by the statutory due date in the previous year; failure to do so attracts interest under the provisions for nonpayment and shortfall of advance tax. A tax payment made on or before the last day of the financial year is treated as payment of advance tax for that year. en-us Mon, 25 Dec 2023 10:50:00 +0530 Wed, 10 Jan 2024 15:38:00 +0530 TaxTMI RSS Generator If a person adopts the presumptive taxation scheme of section 44AD, then is he liable to pay advance tax in respect of income from business covered under section 44AD? https://www.taxtmi.com/manuals?id=4094 A person opting for the presumptive taxation scheme under section 44AD must pay the whole advance tax liability for the business income covered by the scheme by the statutory due date in the previous year; failure to do so attracts interest under the provisions for nonpayment and shortfall of advance tax. A tax payment made on or before the last day of the financial year is treated as payment of advance tax for that year. Manuals Income Tax Mon, 25 Dec 2023 10:50:00 +0530 https://www.taxtmi.com/manuals?id=4094