Claiming of expense on commission income
This query is : Resolved
20 July 2022
I am a marketing exicutive in an entity. Along with my salary i have received some amount as commission. While filing income tax return, my tax return preparer advice me to claim 50% expense on these commission income. Is there any problem on claiming expense on commission income
20 July 2022
No problem claim reasonable expenses on your travel and other expenses.
20 July 2022
Is this require any documental proof for supporting the same. During the year i have received an amount of Rs. 21 lakh and he advice me to claim an expense of 50% of the same. And in this case am i liable of GST registration
20 July 2022
Yes, you are liable for GST registration as the receipts exceed 20 lacs.
To claim the expenses you need to maintain books of accounts and documentary proof required.
To claim the expenses you need to maintain books of accounts and documentary proof required.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- TDR receipts for agreement holder
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- GSTR9C Turnover
- Vivad se vishwas scheme 2024 new
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
