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eligible business for sec 44AD.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2011 commission earn i.e. LIC commission is taxable under the heading "BUSINESS" Then here possible to apply sec.44AD i.e. 8% of the commission.
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
24 June 2011 yes u can take recourse to section 44AD
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2011 Before amendment of sec.44AD, commission earn Upto 60000/-deductions for 1st/renewal vide circular.i.e. 50% & 15%..now this provision continue or not...
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