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New Section 44AD-presumtive taxation

This query is : Resolved 
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(Querist)
12 July 2011 Can this section be applied to a person deriving commission income from LIC?
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
13 July 2011 Yes commission received from LIC can be treated as a business income and hence section 44AD can be applied.

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