Income from Commission for Insurance Agents
This query is : Resolved
19 June 2023
Dear Sir,
One of my client received commission of Rs.38 lacs and TDS deducted 1.9 lacs. What is procedure for filing IT Return and claim refund. I mean how much income to declare.
Thanks in advance
One of my client received commission of Rs.38 lacs and TDS deducted 1.9 lacs. What is procedure for filing IT Return and claim refund. I mean how much income to declare.
Thanks in advance
19 June 2023
File ITR 3 with books of accounts. Deduct the expenses actual incurred to earn the commission. Pay tax liability as per the assessment. Deduction under Ch. VI-A can be claimed.
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