Mutual Fund Brokerage
Dipak Murchite (5 Points)
29 February 2020
How to determine tax liability on mutual fund brokerage? can i go for 44AD. If not then under which head??
Dipak Murchite (5 Points)
29 February 2020
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160998 Points)
Replied 01 March 2020
No, section 44AD not eligible in this case.
File return under normal case, with books of accounts maintained.
Declare the brokerage income under PGBP head.
CA CS LAVESH VASYANI
(PARTNER)
(215 Points)
Replied 01 March 2020
CAclubindia
