Is Insurance commission can come under Business u/s 44AD
This query is : Resolved
24 July 2011
Whether Commission on Insurance received by an Agent can come under Business for Sec.44AD for filing ITR-4S? can he file ITR-4S as per Presumptive Income?or will it come under Profession as Profession is out of scope of 44AD
24 July 2011
ICAI says 'insurance agency' is business. can opt 44AD and ITR-4S.
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27 July 2011
Undoubtedly yes.
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