Commission Income

265 views
User Avatar

Proprietor
538 Points Posted on 30 September 2020
If a person is trading in goods. He is also earning some amount of commission related to his business. In Commission TDS is also deducted. Now my question is whether he can file return u/s 44AD
0 Reply Share Follow
On 30 September 2020 at 13:37 Report
Replies (3)
Quick Summary
This discussion clarifies that income earned from commission or brokerage is not eligible for the presumptive taxation scheme under Section 44AD of the Income Tax Act, 1961. It's important to verify your Form 26AS to confirm the section under which TDS has been deducted on your commission income.

User Avatar

online

GST Practitioner & Accounts
15146 Points Posted on 30 September 2020

Provisions of Section  44AD of the Income Tax act 1961 ,   not  applicable  to commission income . 

please  confirm with others also. 

Reply
On 30 September 2020 at 14:26
User Avatar

155 Points Posted on 30 September 2020
A person earning income in the nature of commission or brokerage is not eligible to avail ant benefit under section 44AD.
Reply
On 30 September 2020 at 16:34
User Avatar

61 Points Posted on 30 September 2020
First of all you verify your 26AS, in which section TDS is deducted.
Reply
On 30 September 2020 at 22:22

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sale of property in SLUM area ....SRA
  2. GST applicability on Shipping charges
  3. Outstanding Demand in Income Tax: How To Respond?
  4. LTCG on property sale
  5. Capital gains incidence due to bonus shares
  6. Amendment of Object Clause of Memorandum
  7. How Can I Request a Refund for an Accidental Airte
  8. TDS on salary paid in cash
  9. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
  10. Last Date To Fill ITR For Non-Audit Case

More recent discussions | Post

Related Topics :

Loading