Tax audit
This query is : Resolved
24 August 2012
a agent of life insurance corporation of india have earned total commission of Rs. 20,00,000. is it required to tax audit
avneesh.bibhu@gmail.com
avneesh.bibhu@gmail.com
24 August 2012
there is no requirement of audit being commission income falls under other sources income and audit is required only for business & professions u/s 44AB.
24 August 2012
I Think Its Better to Do Tax Audit, & File ITR 4 Claim as Business Income So That You Can Show Various Expenses Incurred in Regard to Commission Income Earned.
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