INSURANCE COMMISSION

SAGAR (CA) (129 Points)

12 March 2010

HI, CAN ANYBODY TELL ME, IF I RECEIVE INSURANCE COMMISSION OF RS. 90,000

THE ADHOC DEDUCTION IS NOT APPLICABLE BUT FOR CLAIMING THE EXPENDITURE

CAN I HAVE TO PREPARE THE P/L A/C OR CAN I ALSO CLAIM IN THE NO ACCOUNT CASE.

PLS HELP

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3 Replies

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 12 March 2010

You will have to prepare a P & L a/c giving details of all income and expenditure incurred

SAGAR (CA) (129 Points)
Replied 12 March 2010

BUT IAM NOT FALLING U/S 44AA, EVEN THEN I HAVT TO PREPARE BOOKS.

CA Priya (CS Final) (1049 Points)
Replied 12 March 2010

Yes... Bec it'll help u prove that yr limit doenst exceed the limit prescribed.......

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