Section 44ad
This query is : Resolved
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
24 June 2016
44AD not applicable on commission income.
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
24 June 2016
yes you have to file ITR-5 with books of accounts. yes you can show profit as you earn
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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