44af
This query is : Resolved
21 January 2012
Who can be termed as retail trader for the purpose of 44AF of the Income Tax Act ?
CA PARAS BAFNA
(Expert)
21 January 2012
Persons who are purchasing goods and without performing any manufacturing activity so as to change the nature and property in the goods selling it., can be termed as trader.
A retail trader is that person who sales the goods in small quantities, mainly to the ultimate consumers.
Example- Sale of Bread, Biscuits, Soap etc by a provision store.
A retail trader is that person who sales the goods in small quantities, mainly to the ultimate consumers.
Example- Sale of Bread, Biscuits, Soap etc by a provision store.
CA.Vinita Gupta
(Expert)
21 January 2012
Retail Trader of any Goods or Merchandise are covered u/s 44AF.
Retail Trader means a Person who sells Goods to end users, Agreed with Paras Sirs reply
Retail Trader means a Person who sells Goods to end users, Agreed with Paras Sirs reply
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