Sec44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2012
respected sir,
in the light of given new guidelines regarding form-4s for asst year2012-13, is it correct to compute frofit under sec-44ad inrespect of commission earned.
in my opinion as there is no amendment made to sec44ad, it would not be wrong to caliculate commission profit as per sec 44ad.
please clarify
thanks in advance.
in the light of given new guidelines regarding form-4s for asst year2012-13, is it correct to compute frofit under sec-44ad inrespect of commission earned.
in my opinion as there is no amendment made to sec44ad, it would not be wrong to caliculate commission profit as per sec 44ad.
please clarify
thanks in advance.
11 July 2012
Section 44AD has been retrospectively amended w.e.f AY 11-12 to provide that Section 44AD is NOT applicable to commission or agency income.
Accordingly, an assessee earning commission CANNOT avail benefit u/s 44AD.
Accordingly, an assessee earning commission CANNOT avail benefit u/s 44AD.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Gift to nri relatives residing in usa
- Capital Gains Tax on Inherited Mutual Fund
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
