Hi
For the A.Y.2010-2011 Rs.4,00,000 (Four lac Only) received as commission from Metlifeb (After deducting Tax) and Salary earnd from another Company Rs.6,00,000 (Six Lac Only) (As per Form 16) .Can i File Return for Commission Received from Metlife U/S 44AD ? OR After deducting expendiure of Rs 3,55,000
Commission Income Covers under the head Income from other Sources and sec 44AD covers only income From Business, So you cant file your return u/s 44AD.
COMMSION RECD IS NOT A INCOME FROM OTHER SOURCES, IT IS A BUSINESS INCOME.... AS PER NEW AMMENDMENT SEC 44AD IS NOT APPLICABLE TO COMMISSION INCOME ... EARLIER IT WAS....
CAclubindia
