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Commission received,filing return u/s 44ad

This query is : Resolved 
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(Querist)
11 January 2012
PHM is my client, a fruit merchant and received a commission of 3,48,600/-.He did not maitain any accounts and No VAT RETURNS as fruits are exempted from VAT.

Can he he file his return of income u/s 44AD on gross
commission of 3,48,600/- at 60% of the commission
received.

any precautions to be taken kidly advise me.Ofcourse we
will consider credits in his bank a/cs and investments made AND also household expenses.

Kindly guide me.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 April 2012 Section 44AD has been retrospectively amended by Finance Bill.

The amendment provides that with retrospective effect from AY 11-12, assessees earning commission income CANNOT avail the benefit of presumptive income.

Accordingly the farmer CANNOT file return u/s 44AD.

He will have to maintain books of accounts.
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