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.
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