Income tax on Commission income
This query is : Resolved
02 February 2010
Mr A has received a commission income of Rs 1 crore.What type of expenses can he claim deduction so as to minimize his tax liability.
02 February 2010
First of all the taxability of any income depends on the activity engaged in by the assessee and also the business carried on whether it is the primary or incidental to the main business, then the taxability would depend on the same....
Hence it is the first and the foremost thing that what source the income is reeived and what is the activity of the assessee from where the incoem is received.
Hence it is the first and the foremost thing that what source the income is reeived and what is the activity of the assessee from where the incoem is received.
02 February 2010
The assessee has received the commission for arranging a loan to the client.It is the normal business of the assessee.But its just dat he has just commenced his business.
02 February 2010
Appoint an income tax consultant to do the tax planning as the stakes involved are huge
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- New Garden in Place of Old Garden
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
