sec 44AD applicabiliy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2011
RESPECTED EXPERTS.....
ONE OF THE PERSON IS DEALING WITH THE MOBILE COMPANIES CARDS AND OTHER ANCILIARY PRODUCTS
NOW,COMPANY PAID HIM COMMISSION AFTER DEDUCTING TDS,AND THAT COMMISSION AMOUNT IS APPROXIMATELY 40 LACS,
THUS ON ONE SIDE HE IS AS IF RETAIL TRADER OF MOBILE PRODUCTS AND ON THE OTHER SIDE COMPANY PAID HIM COMMISSION,
THUS WHETHER SUCH PERSON CAN AVAIL THE BENEFIT OF SEC 44AD?
ONE OF THE PERSON IS DEALING WITH THE MOBILE COMPANIES CARDS AND OTHER ANCILIARY PRODUCTS
NOW,COMPANY PAID HIM COMMISSION AFTER DEDUCTING TDS,AND THAT COMMISSION AMOUNT IS APPROXIMATELY 40 LACS,
THUS ON ONE SIDE HE IS AS IF RETAIL TRADER OF MOBILE PRODUCTS AND ON THE OTHER SIDE COMPANY PAID HIM COMMISSION,
THUS WHETHER SUCH PERSON CAN AVAIL THE BENEFIT OF SEC 44AD?
CA PARAS BAFNA
(Expert)
27 June 2011
First decide his turnover or gross receipts.
Gross Receipts are 40.00 lacs, decide Sales of mobiles and its products.
In case the total exceeds 60.00 lacs , it is compulsory to get accounts audited as per Section 44AB (a) .
Please also check whether he has passed on commission to his retailers and discharged his TDS liablity.
Gross Receipts are 40.00 lacs, decide Sales of mobiles and its products.
In case the total exceeds 60.00 lacs , it is compulsory to get accounts audited as per Section 44AB (a) .
Please also check whether he has passed on commission to his retailers and discharged his TDS liablity.
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