Can LIC Agent can file his return under section 44ADA
ON PRESUMPTIVE BASIS
Is required to give balance sheet???
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Return Filling
Replies (2)
"Can LIC Agent can file his return under section 44ADA "
No......
LIC agent cannot opt for presumptive assessment, has to file under normal scheme with books of accounts maintained.
Yes,
If value of services provided is < 50 lakhs in the FY and where Profit is > 50% assessee is not required to maintain books of accounts.
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