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Sale purchase of property stock covers u/s. 44ad

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(Querist)
21 December 2013 Sir,
If Income arise as a sale & purchase of property stock under business & Profession Income, whether it can take U/s. 44AD.
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CA Vikas Acharya

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CA Vikas Acharya (Expert)
21 December 2013 1st determine whether income.as commission profession or business. Comission or profession not allowed under 44AD. Business only allowed if profit not less tha 8% and turnover less than 1cr

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