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Audit

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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.
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CA Gaurav Ajit Potdar

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CA Gaurav Ajit Potdar (Expert)
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.
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