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Adhoc deduction for insurance agents

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(Querist)
25 February 2014 Whether adhoc deduction(ref:circular u/s 57) in respect of commission received by insurance agent is available only to LIC agent or all life insurance agents?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
25 February 2014 It is applicable only to agents of LIC and NOT to other life insurance agents.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 February 2014 Yes, circular 648 dated 30.3.1993 is applicable only to insurance agents of LIC.
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