Hi,
Can we file ITR u/s 44AD for commission income?
6 Replies
shreyansh vyas
(50 Points)
Replied 09 July 2017
yes
only in case when total turnover does not exceed 40 Lacs.
only in case when total turnover does not exceed 40 Lacs.
CA Jaya pandey
(Chartered Accountant)
(224 Points)
Replied 09 July 2017
40 lacs!!! Can you please give reference to the section?
Poltu Ghosh
(Job)
(1865 Points)
Replied 10 July 2017
In the Finance Bill 2012 section 44AD has been amended retrospectively w.e.f A.Y. 2011-12 to the effect that presumptive scheme under the said section is not applicable to
> persons carrying on profession as referred to in section 44AA(1) or
> persons earning income in the nature of commission or brokerage income or
> persons carrying on any agency business.
CA Prashak Kumar Goyal
(Pratice)
(192 Points)
Replied 10 July 2017
Section 44ADwont apply in case of Agency Business as well as in case of a business earning income from Commission or Brokerage.
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