eligible business for sec 44AD.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
commission earn i.e. LIC commission is taxable under the heading "BUSINESS" Then here possible to apply sec.44AD i.e. 8% of the commission.
24 June 2011
yes u can take recourse to section 44AD
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2011
Before amendment of sec.44AD, commission earn Upto 60000/-deductions for 1st/renewal vide circular.i.e. 50% & 15%..now this provision continue or not...
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