194 h and 194 d
This query is : Resolved
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suja pirama
(Querist)
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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CA R SEETHARAMAN
(Expert)
05 May 2022
No, it can't shown as professional income and opt for 44ADA.
Eswar Reddy S
(Expert)
05 May 2022
Commission income is not eligible for Presumptive Taxation.
You may see it in the list of categories ineligible for Presumptive Taxation
suja pirama
(Querist)
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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