Commission Recd..
The Assessee is having income from Salaries Rs.1,80,000/- and Income from Commission Rs.4,00,00/- . Can I declare more than 70% profit on commssion income under Section.44AD.
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Section 44ad provisions for commission recd.
Replies (1)
| Originally posted by : V.Krishna | ||
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Commission Recd.. The Assessee is having income from Salaries Rs.1,80,000/- and Income from Commission Rs.4,00,00/- . Can I declare more than 70% profit on commssion income under Section.44AD. |
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Presumptive provisions of sec. 44AD are not applicable to a person earning income in the nature of commission or brokerage.
sub-section (6) of section 44AD
The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;
(ii) a person earning income in the nature of commission or brokerage; or
(iii) a person carrying on any agency business.
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