Hi Freind,
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
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Lic commission - sec 44ad
Replies (9)
Also Inform labour charges received from plumbing work is also can we consider under 44AD?
yes you can file your client return U/s. 44AD.
Dear,
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.
Agree with sushil kumar....
You will get adhoc deduction on lic commission....refer sec 57...avail deduction
cant file return u/s 44ad.
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.
You can file ITR 4S if commissin received if upto Rs. 60000 otherwise you need to submit ITR 4.
yes, labour charges received from plumbing work can be considered under 44AD.
Dear Mr. Syed please convey the reference or notice or circular number to me about upto Rs,60000 commission can file return in IT4S.
Please revert.
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