44ad can be applied for advertisement agent
This query is : Resolved
28 March 2016
advertisement agents do collect ad receipts by raising invoice, but they pay 85% receipt amount to newspapers. then what lefts is the gross profit. now the question is that
1. can i file i.tax return u/s 44ad ?
2. is 8% profit is to be calculate on entire receipt or on 15% amount of receipts ?
thanks in advance
1. can i file i.tax return u/s 44ad ?
2. is 8% profit is to be calculate on entire receipt or on 15% amount of receipts ?
thanks in advance
28 March 2016
1 Yes you can file return u/s 44AD.
2 8% profit has to be calculated on entire receipt.
2 8% profit has to be calculated on entire receipt.
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