44 ad for commision agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2012
MY ALL CLIENTS ARE COMMISION AGENTS OF MANY NETWORKING COMPANIES EARNINGS INCOME ALSO ABOVE RS.30 LACKS....CAN I TAKE BENIFIT OF SEC.44AD & CLAIM PROFIT ONLY ABOVE 2.4 LACKS & PAY SMALL TAXES OR NO TAXES AFTER ALL DEDUCTIONS...?
CA PARAS BAFNA
(Expert)
24 June 2012
Section 44AD can not be applied on Commission Income. Please refer Section 44AD(6)(ii).
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