Presumptive Taxation for Commission earned on Sale of Tractors
This query is : Resolved
Quick Summary
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
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
25 February 2023
No, assessee having commission income are not eligible for sec. 44AD of IT act.
25 February 2023
Ok, Is it mandatory to maintain his Books of Accounts.
25 February 2023
Check if sec 44AA of IT act is applicable, otherwise no need to maintain books.
Message likes :
1 times
04 March 2023
Ok Sir, Thanks for your reply.
04 March 2023
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
- TDS 194-T applicability
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Applicability of GST on Salary Reimbursement Component
- GST ITC REVERSE
- TDS on TRUST
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- FAST-DS Scheme - Foreign Assets
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
