Commission income
This query is : Resolved
25 March 2015
An individual has received around 25 lakhs as commission income in MLM business. (For example - Amway, Altos, Oriflame) TDS has been deducted @ 10% and reflected in 26AS accordingly.
Q1) Will the individual be able to claim any expenses against such commision income? THe assessee wants to show income around 10 lakhs. Is it possible?
Q2) Is he also liable to Service tax? How?
Q1) Will the individual be able to claim any expenses against such commision income? THe assessee wants to show income around 10 lakhs. Is it possible?
Q2) Is he also liable to Service tax? How?
25 March 2015
1.all expenses incurred in connection with earnings such commission.no, 25 lakhs to be shown as income.
25 March 2015
Sir,
is there any way out to claim expenses?
The assessee is not willing to pay such huge tax
is there any way out to claim expenses?
The assessee is not willing to pay such huge tax
25 March 2015
Sir,
is there any way out to claim expenses?
The assessee is not willing to pay such huge tax
is there any way out to claim expenses?
The assessee is not willing to pay such huge tax
25 March 2015
for that u have to tell me all the activities to earn such income and how it is paid to him via cheuqe or cash or fund transfer
25 March 2015
the commission is paid via transfer of funds to my bank account.
the commission is paid via transfer of funds to my bank account.
25 March 2015
so all exp like electricity, mobile fone used for calling any travelling exp and all such related exp can be utilised for setting off against such commision
25 March 2015
i didnt get u?????????????
25 March 2015
Sir,
The assesse wants to show income around 10 lakhs only and not more than that. In that case he needs to claim expenses around 15 lacs. Electrcity, Telephone Internet, Travelling cannot amount to such huge amount of expenditure. So i want to know is there any tax planning possible to do so.
The assesse wants to show income around 10 lakhs only and not more than that. In that case he needs to claim expenses around 15 lacs. Electrcity, Telephone Internet, Travelling cannot amount to such huge amount of expenditure. So i want to know is there any tax planning possible to do so.
25 March 2015
sorry such big amount cant be cooked in a day.
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