My friend given consultancy for getting loan from bank for various types of business person.
In last year AY 2018-19 he has filed ITR-4 U/S 44 AD.
My question is whether sec 44AD applicable or 44ADA ???
He has received commission/brokerage from Bank and some time also from client.
7 Replies
JAYKISHAN PATEL
(60 Points)
Replied 03 July 2019
but if I want to go with presumptive basis then which one 44AD or 44ADA. ???
Jatin
(Accountant)
(3479 Points)
Replied 03 July 2019
No, you can't file ITR u/s 44AD or 44ADA (Commission income not covered)
Debiprasad Jana
(295 Points)
Replied 03 July 2019
44AD is not applicable for commission or brokerage income.
you can file ITR1 and show it under the column income from other source but in ITR1 you can not claim expense or you can file ITR3 and can claim expense.
see the 26AS first in which section TDS has been deducted.
you can file ITR1 and show it under the column income from other source but in ITR1 you can not claim expense or you can file ITR3 and can claim expense.
see the 26AS first in which section TDS has been deducted.
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
