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Presumptive Taxation for Commission earned on Sale of Tractors

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(Querist)
25 February 2023 Dear Sir,

One of my client earns Commission income on Sale of Tractors. His TDS gets deducted U/s. 194H on this income. Can his return be filed under Presumptive Taxation scheme as his volume of business is not much. His Total Turnover is around Rs. 5,50,000/- p.a.

Please help me in this matter.

Regards,
Divyesh Jain
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 February 2023 No, assessee having commission income are not eligible for sec. 44AD of IT act.
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DIVYESH JAIN

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DIVYESH JAIN (Querist)
25 February 2023 Ok, Is it mandatory to maintain his Books of Accounts.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
25 February 2023 Check if sec 44AA of IT act is applicable, otherwise no need to maintain books.
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DIVYESH JAIN

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DIVYESH JAIN (Querist)
04 March 2023 Ok Sir, Thanks for your reply.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
04 March 2023 You are welcome.
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