Reg: Presumptive Taxation Scheme

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3 comments

  • Official comment
    Team Quicko

    Hi Prasad,

    Yes, you can opt for a presumptive taxation scheme.

    Further, taxpayers opting for a presumptive taxation scheme under Sec 44ADA should pay the entire amount of advance tax on or before 15th March of the financial year. The due date for filing ITR for FY 19-20 is November 30, 2020. 

    Hope this helps :)

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  • Prasad Kris

    Thanks, this helps! so what would you advise as I haven't paid the advance tax, can I pay everything now?

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  • Quicko Support

    Hi Prasad, 

    Yes, you can pay your tax liability when filing your Income-tax return. However, a penalty may be applicable under section 234B or 234C

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