How to compute income of insurance agent
This query is : Resolved
Rahul Prasad
(Querist)
31 January 2014
dear sir,
plz make me understand that if any insurance agent is earning commission from insurance company.
then in what amount will be income of that person
e.g: suppose one person got 450000 commision after TDS then in 450000+50000(TDS). how much amount will be called income
total 500000 or there is any rebate??
plz make me understand that if any insurance agent is earning commission from insurance company.
then in what amount will be income of that person
e.g: suppose one person got 450000 commision after TDS then in 450000+50000(TDS). how much amount will be called income
total 500000 or there is any rebate??
AVTAR SINGH
(Expert)
31 January 2014
Rs 500000. Deduction of expenses like conveyance, telephone etc. incurred to earn such income is allowed.
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