Commission Income
This query is : Resolved
Jitesh Chowdhury
(Querist)
30 September 2008
What is the criteria for tax audit if an assessee has commission income earned as a canvassing agent?
30 September 2008
In case the Gross Receipt is 40 lac or more, Tax Audit is to be conducted.
S.Srinivasaraghavan
(Expert)
30 September 2008
Gross commission.
Jitesh Chowdhury
(Querist)
30 September 2008
no but the idea is commission is a professional income and gross receipt criteria of Rs. 10 lacs shouls come in play rather than 40 lac turnover criteria since he's got no turnover whatsoever!
01 October 2008
In case of a person engaged in a service industry it is the gross receipt which is to be considered.
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