INCOMETAX - STOCK BROKER

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accounts
67 Points Posted on 21 August 2021

Hi, Friends,

Stock Broker getting income ( commission) from stock exchange.  which ITR we can file. can we opt sec 44ad for commission agents .

where we enter data commission income in ITR Form,

 

Regds,

Subrahmanyam

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On 21 August 2021 at 10:19 Report
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This discussion clarifies the Income Tax Return (ITR) filing process for stockbrokers earning commission income. It is advised that stockbrokers should file ITR 3, treating commission as business income and maintaining books of account. Importantly, Section 44AD is not an option for commission agents.

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SEO Sai Gr. Hosp.
212455 Points Posted on 21 August 2021

File ITR 3 with books of account.

Sec. 44AD can not be opted by commission agents.

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On 21 August 2021 at 10:26
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Chief Accountant
3150 Points Posted on 21 August 2021
File ITR 3 as business income.You can't disclose commission income u/s 44AD
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On 21 August 2021 at 13:41
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SEO Sai Gr. Hosp.
212455 Points Posted on 24 August 2021

In protest against ADMIN for its discriminatory behavior among different members, I leave the portal permanently.  Good Bye.  

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On 24 August 2021 at 19:30

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