Commission income from website advertising treated as agency/commission income; presumptive taxation unavailable and canvassing is taxable.
Income from click based website advertisements paid via an intermediary is commission income rather than rent or ordinary business receipts; often amounts to agency business due to contractual restrictions. Presumptive taxation is inapplicable, requiring maintenance of regular books and computation of taxable income on actual basis, with tax audit applying when statutory turnover thresholds are exceeded. For indirect taxes, selling online ad space is exempt under the negative list, but canvassing or soliciting ads for commission is taxable as Business Auxiliary Service, subject to applicable threshold exemptions. (AI Summary)

Capital gain exemption timing: utilisation within extended return period may preserve exemption, but deposit deadline remains strict.
Capital gain exemption under Section 54 distinguishes utilisation and deposit timings: utilisation of the full capital gain within the extended return-filing period can satisfy the exemption requirement, but any deposit into the capital gain account must be made by the normal return filing due date; delayed deposits after that due date cannot substitute for timely utilisation. (AI Summary)