14 March 2013
dear sir TDS u/s 194H AND 194D Commission & Brokerage income 50 LAKH then audit requried or u/s 44AD liability is applicable or not tell me somthing about that.
14 March 2013
sec 44AD will not apply to a person having income from (i) a profession, (ii) commission or brokerage or (iii) any agency business. in your case you have not mentioned the FY if it is 11 - 12 Tax audit limit is 60 lacs & for 12 - 13 it is 1Cr Hence in your case Audit will not be applicable, nor you can declare income on presumptive basis,. you have to declare income on actual basis.
CAclubindia
