194 h and 194 d
This query is : Resolved
04 May 2022
sir
can commission income earned under 194h and 194d be claimed as business receipts showing as professional income thereby claiming 50% expenses.
can commission income earned under 194h and 194d be claimed as business receipts showing as professional income thereby claiming 50% expenses.
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05 May 2022
No, it can't shown as professional income and opt for 44ADA.
05 May 2022
Commission income is not eligible for Presumptive Taxation.
You may see it in the list of categories ineligible for Presumptive Taxation
05 May 2022
thank u sir. in case of commission income such as lic, postal agents is there any fixed amount that can be claimed as expenses.
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