Commission income - section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 October 2012
I am a LIC agent. I earn commission income. Can I file my return under Section 44AD?
23 October 2012
Section 44AD has been retrospectively amended w.e.f AY 11-12 to provide that commission income is NOT covered u/s 44AD.
Accordingly, persons earning commission income CANNOT avail benefit of Section 44AD.
You will have to file ITR 4.
Accordingly, persons earning commission income CANNOT avail benefit of Section 44AD.
You will have to file ITR 4.
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