Menu
Presumption income u/s 44AD
For AY 2017-18 the assessee has received Rs. 62 lacs by way of shipping commission (as per 26AS). can it be shown under 44AD ??
Replies (7)
shipping commission doesn't come under the purview of section 44AD
regards
Kanj Goel
regards
Kanj Goel
Sir the assessee acted as a middleman for arranging cargo for many shipping agencies for which he received commission from them after deducting TDS. Will it be considered as shipping commission ?
Yes, commission income
Will it be treated as "SHIPPING COMMISSION" since the commission was paid to him by the shipping agencies?? or can we take it as General middleman commission and claim 44ad
Sir, Commission income doesnt qualify in section 44AD.
Thanks
Kanj Goel
Section 44AD is not applicable to commission business
go for 44ADA instead of 44AD because 44AD not allowed in respect of commission brokerage agency businesses
Recent Topic
- Foreign citizen as directors
- Which category of Employer is applicable to Kendri
- GST on Post-OC Installments – Payment Milest
- Sec-54F exemption and Carry forward losses
- FEMA treatment — USD gift from LRS-funded fo
- RSU and Schedule FA related
- ELIGIBILITY FOR COMPOSITION SCHEME
- Doubt regarding the purpose of Section 52(3) of Co
- 112 A Filling
- Long Term Capital Loss in ITR2
Related Topics
CAclubindia
