Presumptive income

This discussion clarifies whether commission or brokerage income earned from selling mutual fund schemes can be classified as presumptive income under Section 44AD of the Income Tax Act. The consensus is that these types of income, typically falling under 'other sources', are not eligible for presumptive taxation under Sections 44AD, 44ADA, or 44AE. These sections are specifically for profits and gains from business and professions.