an assessee is having commission income & is also running a trading business. can he show his income from trading business under section 44AD.
Saurabh Toshniwal (ca final) (2358 Points)
20 December 2014an assessee is having commission income & is also running a trading business. can he show his income from trading business under section 44AD.
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 20 December 2014
I think he could that if commission being received by him is not pertaining to trading business and gross receipts of trading business exceeds 1 crore rupees
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13531 Points)
Replied 20 December 2014
Trading business can be shown u/s 44AD as long as gross receipts does not exceed Rs. 1 crore
CA Mahesh Garg
(Chartered Accountant)
(22 Points)
Replied 20 December 2014
NAVEESH DHAR
(ADVOCATE- TAXATION ADVISOR)
(427 Points)
Replied 21 December 2014
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13531 Points)
Replied 24 December 2014
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
