Presumptive income

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Can Estate Agents file under Presumptive Income? (44AD or 44ADA)
Replies (4)

No.  A person who is carrying on any agency business or earning income in the nature of commission or brokerage cannot assess income under presumptive scheme.
 

Thank you Sir.

One more question, Are every type of agencies covered in that, whether it be Advertisement agencies, courier agencies, security agencies, software development agencies or travel agents?

Agency has specific meaning, means working on someones behalf on some commission etc. These agencies of whatever nature are covered and cannot declare income under sec 44AD, like estate agent, travel agent, etc. But security, software development etc. are not actually agency, but come under eligible business and hence can declare income u/s. 44AD, subject to fulfillment of other conditions.

Thank You Sir for a wonderful response.


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