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Presumptive taxation, Income Tax
Issue Id: - 106618
Dated: 14-3-2014
By:- jatin Gandhi

Presumptive taxation

  • Contents

Hello,

I am a insurance agent and I have received insurance commission of Rs.135000/- in current financial year. Can I show income at the rate of 8 percent on Rs.135000/- as presumptive income.

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Page: 1

1 Dated: 14-3-2014
By:- CA GOPALJI AGRAWAL

You cannot claim the presumptive rate of 8 percent as you are not an eligible assessee u/s 44AD. You can claim your genuine expenses through profit & loss account.

Page: 1

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