Can any body tell me that insurance commission, under which head to be taxable, TDS deducted u/s194D Total insurance commission Rs.30000 in a year.This is not my main business.
Can i put under other sources?
If yes, Can i claim adhoc deduction 50% for first year commission?
If yes, adhoc deduction is available for only LIC commission or any other insurance commission say SBI life.
Thanks
https://blog.cleartax.in/income-tax-on-insurance-commission/
this link will answer your query
https://blog.cleartax.in/income-tax-on-insurance-commission/
this link contains provisions that u asked.. just look for this.. hope u will get it from that link.. :)
I am not clear whether to charge under PGBP or Other Sources for that particular income.
| Originally posted by : CA B. Nagarjuna Reddy | ||
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I am not clear whether to charge under PGBP or Other Sources for that particular income. |  |
i dont have any idea about it sir.. i just saw your query and then searched for it and shared you the link.. and this is the first time i am hearing about this provision :(
CAclubindia
