Commission income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2014 under which head commission income would be taxable (commission income means income from selling mobile recharge cards)

Saleem Abdul

Saleem Abdul (Expert)
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18 February 2014 Profits and Gains of Business or Profession if that is your business.

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2014 tds is also deducted, plz let me know that if we dont show the commission income on which tds is deducted in other source, whether that will be a sufficient compliance

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Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2014 tds is also deducted, plz let me know that if we dont show the commission income on which tds is deducted in other source, whether that will be a sufficient compliance

Saleem Abdul

Saleem Abdul (Expert)
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18 February 2014 No.
How can it be a sufficient compliance..?

Once TDS is deducted, there will be record for the income. Then there is no point in not showing the commission income.

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2014 no sir i meant to say that if i show that income as business income the income will be covered in business income, then i dont need to show it in other source...

Saleem Abdul

Saleem Abdul (Expert)
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18 February 2014 Yes. That is fine.
We can plan as per our convenience.
However there shouldn't be any contradition to provisions.