Is commission recived gross receipt

This query is : Resolved

G.HARIPRASAD (Querist)
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26 November 2011 can insurance agent consider commission received as gross receipt and file return of income u/s 44AD BY DECLARING income at greater than equal 8% on commission received?

pl.clarify.if possible with case law or provisions of IT act.

Aijaz Shaikh

Aijaz Shaikh (Expert)
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26 November 2011 Section 44AD covers the following business:-

(i)any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and

(ii)whose total turnover or gross receipts in the previous year does not exceed an amount of [sixty lakh rupees].]

Conclusion:-
Yes, of course he can.