banner_ad

Presumptive Taxation for Commission earned on Sale of Tractors

This query is : Resolved 
Profile Image

Profile Image

(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
Profile Image

Dhirajlal Rambhia

Profile Image

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

DIVYESH JAIN

Profile Image

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

Dhirajlal Rambhia

Profile Image

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

DIVYESH JAIN

Profile Image

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

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
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


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details