U/s 44 ad
This query is : Resolved
02 April 2012
Whether a person running Diamond Brokerage income can claim U/S 44AD ???
For Assessment year 2010-11 , 2011-12
and it heared that in new budget any brokerage , commission and agency income will not be claimed u/s 44 ad...??
For Assessment year 2010-11 , 2011-12
and it heared that in new budget any brokerage , commission and agency income will not be claimed u/s 44 ad...??
04 April 2012
Section 44AD has been retrospectively amended by Finance Bill 2012
With retrospective effect from AAY 11-12 presumptive tax provisions are NOT applicable to persons earning income in the nature of commission or brokerage or person carrying on any agency business.
With retrospective effect from AAY 11-12 presumptive tax provisions are NOT applicable to persons earning income in the nature of commission or brokerage or person carrying on any agency business.
04 April 2012
So in which section it shuld be filled if it is same as 44 ad..
Privs year also filled in 44 ad
Privs year also filled in 44 ad
05 April 2012
This year you will have to show normal profits. You cannot take benefit of presumptive profits.
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