Commission received

This query is : Resolved

A.R.JOSHI

A.R.JOSHI (Querist)
Follow

11 July 2011 Whether Deposit Mobilisation Commission and Gurantee Commission received from a company by a retired person or individual who does not have any business or profession income, can be assessed as Income from business and Income Tax return can be filed U/s 44AD? Answer required with related sections/CBDTcirculars/notifications/clarifications etc.,

CS Bijoy

CS Bijoy (Expert)
Follow

12 July 2011 Can you please the kind of Deposit whether Investment or Security with the Department.

In case of Investment interest can be shown as income from other source.