INCOMETAX - STOCK BROKER

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

Replies (3)
Quick Summary
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.

File ITR 3 with books of account.

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

File ITR 3 as business income.You can't disclose commission income u/s 44AD

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