Sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2012
wether commission business comes uder eligible business for Sec 44AD
CA PARAS BAFNA
(Expert)
16 January 2012
Yes. It is an eligible business as per Section 44AD.
16 January 2012
ALL types of business are eligible business under Section 44AD (except business of plying, hiring or leasing goods carriages).
However, gross receipts should be less than Rs. 60 lakhs.
However, gross receipts should be less than Rs. 60 lakhs.
CA Hardik Bunha
(Expert)
16 January 2012
Professional is out of scope for section 44AD.
For commission income consider 60 lakh but not 15 lakh.
For commission income consider 60 lakh but not 15 lakh.
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