income tax
This query is : Resolved
31 October 2009
Hi,
i am c.a. student
i want to know if a person fully engaged in commission income then which head should be applicable to him whether bussiness profession or other sources or salary income;
if bussiness imcome then books of accounts mainitained complusory.
please reply.
i am c.a. student
i want to know if a person fully engaged in commission income then which head should be applicable to him whether bussiness profession or other sources or salary income;
if bussiness imcome then books of accounts mainitained complusory.
please reply.
01 November 2009
Since he is fully engaged in earning his commission the commission should be treated as business income and accordingly if his receipt of commission exceeds rs.120000 in a year he has to maintain books of accounts.
01 November 2009
Agreed,This is business income.
01 November 2009
Agree with expert
01 November 2009
It should be a business income & also books of a/c's to be maintained u/s 44AA
02 November 2009
It is a business income and books of accounts are required to be maintained
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
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
