Iincome tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 September 2010
I am an Insurance agent. I incur substantial expense on travel and also meet the first few insurance premia of my customers. However I have no documents to prove these expenses. How can I claim them?
CA Sanat Pyne
(Expert)
28 September 2010
If your commission earning is more than rupees sixty thousand a year, then you will have to maintain books of account and proof of expenditure. No claim for the premia payment will be allowed if the customer has claimed the same as his own expenditure.
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