E-TICKET AND MONEY TRANSFER

Commission income cannot be declared u/s. 44AD IT act.

Presumptive taxation for businesses is covered under Section 44AD. Businesses with a turnover of less than Rs. 2/3 crore can choose this scheme and must declare profits of 8% for non-digital transactions or 6% for digital transactions. The following businesses cannot use presumptive taxation:

• Life insurance agents
• Commission agents
• Businesses involved in plying, hiring, or leasing goods carriages