SIR
COMMISSION FROM LICI RS.16,00,000 SIR MY QUARY CAN I GET PROFIT U/S 44ADA ABOVE 8% OR ABOVE 50% IS IT PROFESSIONAL INCOME OR NOT
sir plz advice me
Menu
COMMISSION FROM LICI
Replies (6)
no ,44ad is not applicable for commission incomes
sir can I claim 10% profit on p/l a/c
no, you've pay tax on commission net of other expenditures. and the option of paying tax on 8% of gross receipts is not available to commission business
SIR AFTER BOOKING EXPENDITURE MY PL A/C SHOWING PROFIT 22% IS IT ALLOWABLE OR NOT PLZ ADVICE ME SIR
yes you can but I would highly recommend you to consult a CA, as some expenses as per your profit and loss account could be disallowed.
good clarification and information
Recent Threads
- Income Tax Financial Year 2025-26
- GST rate rcm
- AI in ERP & System Audits - Why Auditors Shoul
- Can updated return be filed having salary income a
- Save LTGC on land sale
- Property given on rent- ITC
- India–EU Trade Pact: Tariffs Down, Opportuni
- How to get online work as a accountant
- GST mandatory when exporting services?
- IMS action related
Related Threads
CAclubindia
