SIR
COMMISSION FROM LICI RS.16,00,000 SIR MY QUARY CAN I GET PROFIT U/S 44ADA ABOVE 8% OR ABOVE 50% IS IT PROFESSIONAL INCOME OR NOT
sir plz advice me
6 Replies
Akhil
(Student CA )
(1005 Points)
Replied 08 July 2019
no ,44ad is not applicable for commission incomes
rishi
(student)
(408 Points)
Replied 08 July 2019
no, you've pay tax on commission net of other expenditures. and the option of paying tax on 8% of gross receipts is not available to commission business
RAJIB BHATTACHARJEE
(82 Points)
Replied 08 July 2019
SIR AFTER BOOKING EXPENDITURE MY PL A/C SHOWING PROFIT 22% IS IT ALLOWABLE OR NOT PLZ ADVICE ME SIR
rishi
(student)
(408 Points)
Replied 08 July 2019
yes you can but I would highly recommend you to consult a CA, as some expenses as per your profit and loss account could be disallowed.
Recent Topics
- Eport of goods
- STAMP DUTY ON TRANSFER
- Advice on Investment of Retirement Corpus
- Nature of business activities under GST registrati
- Tally Vouchers Entry for Commission based services
- Regarding transfer of stock
- CBIC ALLOWED ITC Available in Demo Car
- Final Course - Tricks to Pass
- Can we issue GST debit note in case mother invoice
- ITR-U for declaring foreign assets under schedule-
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
