Section 44ad
This query is : Resolved
Sanjay Vekariya
(Querist)
24 June 2016
firm received commission income from airtel company by selling airtel postpaid sim can it fall under section 44AD and if not than which ITR to file ? and can it show profit below 8% if not opted for section 44AD? Please advice me
Rupesh Jain
(Expert)
24 June 2016
44AD not applicable on commission income.
Sanjay Vekariya
(Querist)
24 June 2016
that means we require to file ITR 5 and full balance sheet has to upload? and further if 44AD not apply that means can it show below 8% profit? please guide us
Rupesh Jain
(Expert)
24 June 2016
yes you have to file ITR-5 with books of accounts. yes you can show profit as you earn
Sanjay Vekariya
(Querist)
24 June 2016
thanks for your reply one last thing to discuss
if i not go for section 44AD than i have to upload balance sheet also and can show profit as minimum as possible against my sales
if i not go for section 44AD than i have to upload balance sheet also and can show profit as minimum as possible against my sales
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