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
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more.
know more Â»
Thank u Dhirajlal Ji for your reply. Sir but whats the meaning of agency business under section 44 AD.
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.
Total likes : 1 times
Your are not logged in . Please login to post replies
Click here to Login / Register
view more »
Set Content Preference
Our Network Sites
Download CAclubindia App
Alternatively, you can log in using:
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.