44ad
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2014
An assessee is a retail trader in automobiles he has earned a commission income in addition to normal income during the course of business. His turnover was 40 lakhs and the commission income was 2 lakhs. Now can we declare turnover of 42 lakhs under 44AD and declare 8 % profit on it or is there any other treatment.
21 March 2014
for commision income no sec44AD can be invoked.....
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 March 2014
Sir the commission income is related to the normal course of business... What is the treatment.
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