Mutual Fund Brokerage

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5 Points Posted on 29 February 2020
How to determine tax liability on mutual fund brokerage? can i go for 44AD. If not then under which head??
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On 29 February 2020 at 21:01 Report
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This discussion clarifies the tax implications for mutual fund brokerage income. It confirms that Section 44AD is not an eligible option for this type of business. Instead, brokerage income should be declared under the Profit and Gains from Business or Profession (PGBP) head, requiring the maintenance of proper accounts.

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SEO Sai Gr. Hosp.
212556 Points Posted on 01 March 2020

No, section 44AD not eligible in this case.

File return under normal case, with books of accounts maintained.

Declare the brokerage income under PGBP head.

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On 01 March 2020 at 10:01
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PARTNER
215 Points Posted on 01 March 2020
Sec 44AD is not applicable for brokerage business..
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On 01 March 2020 at 19:55

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