hello..pls help.. a client is registered as an authorized study centre of university. they received different types of fee from students and remit only registration fee to university. So does the client filed his return on presumptive basis.ie u/s 44AD.. thanks in advance ...
3 Replies
SUPRIYA
(PRACTICE)
(853 Points)
Replied 03 June 2016
Sec 44AD is an option available only to individuals, HUF, and Partnership firm ( not being LLP partnership firm ), who is resident in India.
NO one elese can opt income u/s 44AD
Rohit soni
(Student CA Final )
(33 Points)
Replied 03 June 2016
yes madam the client is an individual but as per section assessee carrying on an agency business or is earning income in the nature of commission or brokerage is not eligible for this section.
is there any problem regarding nature of business because a professional has told me this is like agency business...
CA Mohit Khattar
(Practicing Chartered Accountant)
(50 Points)
Replied 04 June 2016
As per my opinion, This would be covered under agency business only and hence would not be elgible for Sec 44AD.
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