New Section 44AD

This query is : Resolved

ravikanth (Querist)
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05 February 2011 My Client is doing business of General Commission Agents, the new section 44AD is applicable or not for the Assessment Year 2011-12, since the Gross Receipts is less than Rs.60.00 lakhs

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 February 2011 Explanation (b) of the said section says 'any business except that referred in 44AE' is covered under the new section 44AD meaning thereby general commission agency business has to comply the provisions of the new section.

Guest

Guest (Expert)

05 February 2011 Agree with Mr. Warrier.

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