One of my client had income from LIC Commission, can IT return for AY 2014-15 be filed U/s 44AD.
pls let me know as early as possible
Deepak Tapse (Accounts Manager - Taxation) 11 July 2014
Also Inform labour charges received from plumbing work is also can we consider under 44AD?
sushil kumar ( CA Final-Audit Assistant) 11 July 2014
Income from Commission, Brokerage, agency business and professional income are specifically excluded from presumprtive basis i.e. u/s 44AD. Hence You can't file return u/s 44AD.
razz (nd) 11 July 2014
maharaj (accountant) 11 July 2014
Agree with Mr. susil kumar. If only income from LIC commission then file return IT4 and there has option to select code under General commision agent.
So go ahead.
syed kalimuddin (article assistent) 13 July 2014
i.k.patel (tax consultant) 13 July 2014
maharaj (accountant) 13 July 2014