application of 44AD?
This query is : Resolved
22 July 2011
my cousin is a collection agent for few banks.(two wheeler loans, car loans etc..) his total annual receipts in f.y 2010-11 is 11 lakhs. can we apply 44 AD for this case?
CA Navin Jain
(Expert)
22 July 2011
clear he received the commission or professional fee
22 July 2011
navin ji,
he received it as follows.
9 lakhs - 194 H &
2 lakhs - 194 J
how to consider then?
he received it as follows.
9 lakhs - 194 H &
2 lakhs - 194 J
how to consider then?
CA Navin Jain
(Expert)
22 July 2011
you can treated rs. 9 laks as business income (covered Sec. 44 AD) and Rs. 2 Laks as professional income
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