Claiming of expense on commission income
This query is : Resolved
20 July 2022
I am a marketing exicutive in an entity. Along with my salary i have received some amount as commission. While filing income tax return, my tax return preparer advice me to claim 50% expense on these commission income. Is there any problem on claiming expense on commission income
20 July 2022
No problem claim reasonable expenses on your travel and other expenses.
20 July 2022
Is this require any documental proof for supporting the same. During the year i have received an amount of Rs. 21 lakh and he advice me to claim an expense of 50% of the same. And in this case am i liable of GST registration
20 July 2022
Yes, you are liable for GST registration as the receipts exceed 20 lacs.
To claim the expenses you need to maintain books of accounts and documentary proof required.
To claim the expenses you need to maintain books of accounts and documentary proof required.
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