Easy Office
LCI Learning

sec 44ab

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 January 2011 Good Morning
Plz guide me to be aware about the section in case of LIC Commission agent

Plz give the case studies in which it has been specifically stated that the commission will be treated as Professional Income or Business Income.
Profile Image

CA Shailesh Kumar Bhagat

Profile Image

CA Shailesh Kumar Bhagat (Expert)
28 January 2011 I think sale of LIC policy is profession not a business, since it required special knowldge and qualifiaction.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
28 January 2011 Icai in their publication "issues on tax audit" says, insurance agency may be considered as 'business'.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Guest

Profile Image

Guest (Expert)
28 January 2011 Agree with Mr. Warrier

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links