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Complete advance tax might be paid by previous installment of advance tax i.e., fifteen March of the 12 months, in case of failure to do so, fascination is leviable @ 1% on shortfall as per Area 234C
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Given that Mr. P declares profits below that defined from the presumptive revenue plan through the FY 2023-24, he opts to report his revenue as per frequent computation.
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Underneath the presumptive revenue scheme, the taxpayer is allowed website to presume the minimal revenue on the prescribed rate of the whole turnover and is relieved to get the guides of accounts audited.
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