I got 30 lakhs net profit from Insurace comapny.
Now I am planing to start new business with the 30L amount. I have to pay any tax on this.
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Tax isssue
Replies (3)
Yes, you have to pay tax over insurance commission business..
Dear Sir,
I have paid Tax on Insurance commission business. I have calucleted profit after tax I.e, 30Lakhs (Net Profit)
In that case, no more tax liability when you invest the capital in new venture. Only income earned from the business will be taxed.
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