Income of LIC agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2011
Dear all
If an LIC agent(whose commission income is more than Rs. 60000)is working from Home which is owned by mother of that LIC agent, then while computing taxable income of this agent can Electricity, Telephone and society bills paid from the agent's bank account claimed as actual expenditure incurred.
Please guide.
Also guide whether it is PGBP of IOS.
If an LIC agent(whose commission income is more than Rs. 60000)is working from Home which is owned by mother of that LIC agent, then while computing taxable income of this agent can Electricity, Telephone and society bills paid from the agent's bank account claimed as actual expenditure incurred.
Please guide.
Also guide whether it is PGBP of IOS.
02 June 2011
its PGBP, and expenses which are directly related to your insurenace business are only deductible, not the expenses which are related to your living and maintanance.
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