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Applicability of Sec 44AF

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(Querist)
02 March 2010 Hi Expert,

In Case Retail sales are of Rs. 4 lacs and commission income is 9 lacs.Total turnover & Gross receipt comes to Rs.13Lacs. Will sec 44AF apply? If yes on total 13 Lacs?

Please reply asap

Thanks in advance

Regards
Gaurav
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
02 March 2010 as per sec. 44AF , your turnover is Rs. 4 lac and commission receipts are separately taxed. There are two business. One is retail trade and other is commission business.
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