A person has get commission income (194H). his gross receipts are 700000. can i file Presumptive Income Under 44ADA (50% of gross receipts)
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Commission income
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No sir.
44ADA is not applicable to commission income.
Even 44AD is also not applicable.
So file ITR 3 with full BS and P&L Account.
44ADA is not applicable to commission income.
Even 44AD is also not applicable.
So file ITR 3 with full BS and P&L Account.
thnq sir
Both Section 44AD and 44ADA of the Income Tax Act 1961 is not applicable for Commission Income.
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