Persons carrying on agency business or earning commission income should revise their return for A.Y 2011-12, if original return filed u/s 44AD

0 comments Sunday, May 20, 2012
In the Finance Bill 2012 section 44AD has been amended retrospectively w.e.f A.Y. 2011-12 to the effect that presumptive scheme under the said section is not applicable to

persons carrying on profession as referred to in section 44AA(1) or

persons earning income in the nature of commission or brokerage income or 

 persons carrying on any agency business.
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