11 November 2014
Sir, if a person having income from Commission Rs. 250,000/-(Compulsory maintain of accounts) & also doing Retail Business(u/s 44AD), can he file his Return of Income in foll manner? Prepare Profit & Loss Account & Balance Sheet only of Commission Business & Add profit u/s 44AD for retail business, under Capital Account
11 November 2014
Thanks, It means even though we are preparing Profit & Loss acoount for commission Business, we can add Seperatly Profit u/s 44AD to the Total income.