income tax
This query is : Resolved
10 March 2011
I have filed my income tax return with commission income under income from business/ profession by mistake . But from next financial year can i show my commission income under income from other source?
CA PARAS BAFNA
(Expert)
10 March 2011
Commission Income has been rightly shown under the head business/ profession.
Suppose you are an Agent of LIC of India
and later on you will become a Development Officer (an employee) in LIC. In such type of cases you may show such income under Income from other sources otherwise you should continue to show under the head business / profession.
Suppose you are an Agent of LIC of India
and later on you will become a Development Officer (an employee) in LIC. In such type of cases you may show such income under Income from other sources otherwise you should continue to show under the head business / profession.
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