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abhishek (CA FINAL)     03 February 2014

Commission income -applicability of sec 44ad

Hi ALL

 

Can anybody tell me whether we can file income under presumptive taxation sec 44AD if we a person is earning brokerage income from selling of properties ?

 

Thanx in advance :)



 1 Replies

Deepak Gupta

Deepak Gupta (CA Student)     03 February 2014

Originally posted by : abhishek
Hi ALL
Can anybody tell me whether we can file income under presumptive taxation sec 44AD if we a person is earning brokerage income from selling of properties ?
Thanx in advance :)

As per Sec. 44AD(6)(ii), presumptive scheme is NOT applicable to a person earning income in the nature of commission or brokerage.

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