Section 44ad - not applicable to commission income
This query is : Resolved
07 September 2018
Why is Section 44AD of the Income Tax Act In India not applicable to an agency business and commission or a brokerage income? Is any logic or any reason behind it ?
07 September 2018
No major expenses incurred on such commission or brokerage income. Almost entire income will be profit hence applying 8% profit on it is not justified.
07 September 2018
thank you very much sir.
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