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PURUSOTTAM PANDA (Querist)
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28 November 2013 Respected Sir,

One of my client has business income of Rs.2,54,000.00 and commission from insurance (LIC & SAHARA)business for Rs.1,00,000.00(approx). May I file his return u/s 44AD. Else advise me.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 November 2013 In case of normal business income Section 44AD is optional, but it's more like a compulsion.
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In case of Commission Income you can not opt 44AD(6)
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You have to file ITR-4.
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Prepare I&E A/c in respect of Commission Income and a merged Balance sheet of both the businesses . Show Profit from 44AD business in the computation and Schedule BP.
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