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Agency commission

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(Querist)
06 October 2013 sir, does income from agency commission goes under income from business or income from other sources?
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
06 October 2013 As per the Tax audit guidelines issued by the ICAI Commission agents are categorised as Business income. However it will depending on the other heads of your income also.

If your main sources of income is agency commission then it must be income from Business, in case it is your side source then income from Other sources.

OM SAI SRI SAI JAI JAI SAI
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
06 October 2013 If such commission is from Business. it will be treated as Business Income,

Or Else, Income from other source...

regards,
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