Requirement to maintain account books for brokerages receipts
This query is : Resolved
23 February 2022
Sir, during previous year, I had received brokerages/commission exceeding Rs. 1.00 lac (against various sale of lands sale as attorney).Whether I am liable to maintain account books or may I show the same U/S.44AD ?
23 February 2022
Section 44AD is not applicable for commission / brokerage earned. You can maintain books of accounts for the commission earned and disclose the same in the income tax returns.
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23 February 2022
May I show this commission/brokerage income in ITR 4 under the head "Income from other sources" ?
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