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Income from Insurance Commission

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(Querist)
19 February 2011 WHAT PERCENTAGE OF EXPENSES WILL BE ALLOWABLE IN INCOME FROM INSURANCE COMMISSION, IF NO BOOKS ARE MAINTAINED BY THE TAX PAYER.
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Guest (Expert)
20 February 2011 What is the quantum of commission.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 October 2021 For commission income to be declared under head PGBP, books of accounts are required to be maintained. If it is not main source of income for the assessee, you may declare it under IFOS, with about 90% profit margin.
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