plase tell
can an insurance agent having commision income above rs 60000.00, treat it u/s 44AD and do he need to maintain
books.
thanks in advance
CA Manish Chainani (Business) (111 Points)
02 July 2013plase tell
can an insurance agent having commision income above rs 60000.00, treat it u/s 44AD and do he need to maintain
books.
thanks in advance
Ankit Agarwal
(Chartered Accountant)
(35 Points)
Replied 03 July 2013
As per Sec. 44AD (6) (ii), the provisions of 44AD does not apply to a person earning income in nature of commission or brokerage.
CAclubindia
