Ajay (CA Student) (79 Points)
26 July 2008Dear Sir,
Pl give expert opinioin for following Case.
case: Suppose one is Receivng insurance commission From a Ins Company and he is filling return of income
Whether he should show total insurance commission as income and pay tax thereon or he should claim some expenses in respect of the commission earned and net income will b taxable.
CA VINAY BANSAL
(In job with KPMG)
(289 Points)
Replied 26 July 2008
Yes. file the same as business income and show expenses .
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
