15 October 2019
If commission income is 1crore 21 lakhs and net profit is above 20% so it is liable for 44AB or filed the return in 44AD taken as Presumptive income.
15 October 2019
The scheme of Section 44AD is not applicable to commission income. If 44AD is not applicable, the assessee is would be covered by Section 44AB(a). Thus, in your case the assessee would be liable for audit.
44AD: [6] The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to— [i] a person carrying on profession as referred to in sub-section [1] of section 44AA; [ii] a person earning income in the nature of commission or brokerage; or
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