Business income u/s.44AD and insurance commission

Tax queries 212 views 2 replies

SIR,

A PERSON DOING SALES TURONVER OF RS.3500000/- AND ALSO THROUGH ONLINE DELIVERY BUSINESS RECEIPTS 50000/- , HE IS HAVING ANOTHER INCOME OF RS.25000/- AS INSURANCE COMMISION.

CAN I PUT 50000/-  @ 6% ELECTRONIC MODE

3500000 @ 8%  RATE

AND THE INSURANCE INCOME 20000/- AS BUSINESS INCOME TO SHOW WHERE?

ALSO HE GOT OTHER SOURCES INCOME SUCH AS DIVIDEND , INTEREST 

Replies (2)
Commission income not covered under sec 44ad. Also it's required books of Accounts case...
So, ITR 3 is suitable for you and you have a suitable column in PGBP...
Business income under sec 44ad .pls zctuoal turnover...


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