Expense
This query is : Resolved
02 May 2016
My earning is from Insurance Commission only, Can i claim expense against commission income in ITR filing.
03 May 2016
Yes you can claim it,
Where separate figures of first year and renewal commission are available, 50% of first year commission and 15% of the renewal commission.
Where separate figures as above are not available 33.3% of the gross commission.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Disclaimer - Before making any decisions do consult the experts. We do not take any responsibility for misrepresentation or interpretation of act or rules. Neither we nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on.
Where separate figures of first year and renewal commission are available, 50% of first year commission and 15% of the renewal commission.
Where separate figures as above are not available 33.3% of the gross commission.
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Disclaimer - Before making any decisions do consult the experts. We do not take any responsibility for misrepresentation or interpretation of act or rules. Neither we nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on.
Message likes :
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Dhirajlal Rambhia
(Expert)
10 October 2021
If the income is declared under PGBP, all the expenses incurred for the earning of the income can be claimed.
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