Tax Audit Limit for Commission received by LIC Agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2010
Sir my question is if an LIC agent received commission more than Rs. 10 Lakh in P.Y. 2009-10, tax audit is applicable or not
24 September 2010
commission income is business income and hence limit Rs. 40 lakhs and not 10 lakhs.
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23 November 2010
agree
23 November 2010
we should avoid to reply to threads with messages like I agree thanks, etc etc or even by answering the same answer. We should avoid any repition in the asnwer. Instead we can use the thank user icon just below the profile detail of the user in each post. We should always try to add value with your each post.
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