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Commission agent

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(Querist)
16 February 2017 What is the law u/s 44ab and u/s 44ad as regards an individual having the business of receiving commission on sales and collection of dues from debtors of a company??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 February 2017 44AD not applicable to commission business. Commission received will be considered as turnover for the purpose of 44AB.
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Anish Jain

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Anish Jain (Querist)
16 February 2017 Sir what will be the turnover limit under 44ab for FY 2016-17??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 February 2017 1 Crore...................................
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