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Which form should be filed
i am having income in 44 AD and i am showing my commission income in other sources on which tds is deducted.which form will be filed
Replies (4)
Quick Summary
44AD - ITR4 not applicable to commission Income .
Income in 44AD MEANS..
44AD is a section give a relief to small taxpayer. They can declare the income at a prescribed rate. Your turnover must be less than Rs 2 crores. Your NET income shall be considered as 8% of your turnover (net income will be considered 6% in case of digital receipts like cheque etc.)
Sec 44AD is presumptive Income
As per this sec any taxpayer whose turnover is below 2cr.simply show profit 8/6% there is no need to make proper books,
As sec 44AD is not applicable on Commission Income or exception of sec 44AD then You should file ITR3 and maintain the proper books of accounts
As per this sec any taxpayer whose turnover is below 2cr.simply show profit 8/6% there is no need to make proper books,
As sec 44AD is not applicable on Commission Income or exception of sec 44AD then You should file ITR3 and maintain the proper books of accounts
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