44ad for a medical stockist


Article assistant

HI

Wanted to know if someone is running a medical wholesale business wherein he buys medicines from company directly and through its cnf and sells it to retail pharmacies. Then can he claim the benifit of 44ad where his turnover is arnd 50lkh

Thanks in advance

 
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KVO Merau Kutchh

Yes.

 
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Article assistant

Thank u Dhirajlal Ji for your reply. Sir but whats the meaning of agency business under section 44 AD.

 
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KVO Merau Kutchh

Agency is synonymous to commission or brokerage.

In your case the distributor purchases medicine form pharma company and sells in smaller lots, so the turnover includes value of goods, which is not a commission or brokerage.


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Article assistant

any case law for the same??
 
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