Professional under section 44ad in new amedment
This query is : Resolved
16 July 2016
is LIC agent covered as professional under section 44AD in FY 2016-17 ?
16 July 2016
Newly introduced Section regarding presumptive taxation for professionals is 44ADA wef AY 2017-18 (FY 2016-17) Covered professions are:-
1. legal, medical, engineering, architectural, accountancy, technical consultancy, or interior decorations
2. or any other notified professions ( authorized representatives, film artists, company secretary and information technology)
1. legal, medical, engineering, architectural, accountancy, technical consultancy, or interior decorations
2. or any other notified professions ( authorized representatives, film artists, company secretary and information technology)
16 July 2016
ok lic agent commission income should be under PGBP or other source income ?
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