Turnover for sec 44ad
This query is : Resolved
19 June 2015
Turnover from textile business Rs. 95,00,000
Commission earned Rs. 6,00,000
Total Rs.1,01,00,000
Pls clarify:
1. Can the assessee opt for Section 44AD as commission is specifically excluded in 44AD(6)?
2. Or should he get his books of accounts audited u/s 44AB ?
3. Can he opt for Section 44AD for textile business ?
Commission earned Rs. 6,00,000
Total Rs.1,01,00,000
Pls clarify:
1. Can the assessee opt for Section 44AD as commission is specifically excluded in 44AD(6)?
2. Or should he get his books of accounts audited u/s 44AB ?
3. Can he opt for Section 44AD for textile business ?
Nikhil Kaushik
(Expert)
20 June 2015
1. he has to get the audit done. any assessee earning commission income is not eligible for 44AD.
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