section 44AD Query

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malav (Querist)
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08 August 2017 Section 44AD is applicable to a partnership firm who is engaged in the business of sub brokerage of stock market??

Amol S Joglekar (Expert)
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08 August 2017 44AD is NOT applicable in the cases where a person is earning income in the nature of commission or brokerage;

malav (Querist)
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08 August 2017 Whether that Partnership firm required to get audited for Tax audit???

malav (Querist)
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08 August 2017 If that firm is earning less than 8%/6% of its turnover?

Amol S Joglekar (Expert)
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08 August 2017 44AD is not applicable......so no question of 8% presumptions

malav (Querist)
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08 August 2017 Thank you so much for your help

Amol S Joglekar (Expert)
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08 August 2017 you are most welcome.....

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