Sec 44ad
This query is : Resolved
Gopi Kishore Bonam
(Querist)
02 June 2014
Sir, Assessee is carrying prawn commission business. Commission income is below 1Crore. For computing Statement of Total Income whether prepare P&L A/c. or taken at 8% on Commission.
Nikhil Kaushik
(Expert)
03 June 2014
for commission income, 44AD cannot be used.
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