I have query regarding 44 AD
Suppose if I have Turnover Rs 15 lac in case of HUF
Salary to 2 members is Rs 240000 p.a.(Total for both)
After such salary income is 3 lac (i.e. 20 % of T/o)
Now the question is
whether I can show the income in return Rs 3 Lac or it should be Rs. 3 Lac + 2.4 lac = 5.4 lac (as in case of 44 AD exp. are not allowed to deduct), Please guide.
Thank you
another question is:
In case of sole prop. if a person have purchased goods for Rs. 4 lac (M.R.P.) under an agreement to sale them (you can say is sale on approval basis) and after selling such goods the Prop. have to make payment to purchaser Rs. 3.6 lac.
Question is could I apply sec 44 AD or it would be treated as commission and not to apply 44 AD, what treatment is correct?

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