How show income from different type of business
This query is : Resolved
05 June 2024
Sir
income from different head like insurance agent(Rs 75k); intraday and short term gain(Rs -19147(share market); bank dsa (Rs 4718 (commission) previous year ITR filed US 44ADA(filed Rs 3lac(as gstp) and US 44AD(filed Rs 2.50 lac (loan advisor and money lending(small by own) all payout amount is very small
this year income from different head
please suggest can continue with 44ADA and 44Ad and what to do with commission income
regrads
income from different head like insurance agent(Rs 75k); intraday and short term gain(Rs -19147(share market); bank dsa (Rs 4718 (commission) previous year ITR filed US 44ADA(filed Rs 3lac(as gstp) and US 44AD(filed Rs 2.50 lac (loan advisor and money lending(small by own) all payout amount is very small
this year income from different head
please suggest can continue with 44ADA and 44Ad and what to do with commission income
regrads
06 June 2024
You can opt for sec. 44ADA for professional services along with businesses under normal assessment (not under Sec. 44AD) for commission & share trading income.
06 June 2024
Thanks for Prompt reply SIR
should continue 44ad (money lending like SAHUKAR LOAN VERY SMALL AMOUNT ) same as last year? and commission income under normal assessment from this ITR
should continue 44ad (money lending like SAHUKAR LOAN VERY SMALL AMOUNT ) same as last year? and commission income under normal assessment from this ITR
06 June 2024
No. you are not eligible for presumptive assessment u/s. 44AD. Combine the income under normal business.
06 June 2024
thanks a lot Sir for your valuable advise
06 June 2024
You are welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR returnFY25-26
- BIS Certificates
- Itr 1 processing
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
