44af


This query is : Resolved 

(Querist)
21 January 2012 Who can be termed as retail trader for the purpose of 44AF of the Income Tax Act ?

21 January 2012 Persons who are purchasing goods and without performing any manufacturing activity so as to change the nature and property in the goods selling it., can be termed as trader.
A retail trader is that person who sales the goods in small quantities, mainly to the ultimate consumers.
Example- Sale of Bread, Biscuits, Soap etc by a provision store.



21 January 2012 Retail Trader of any Goods or Merchandise are covered u/s 44AF.

Retail Trader means a Person who sells Goods to end users, Agreed with Paras Sirs reply


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