Income tax return
This query is : Resolved
14 August 2015
dear sir,
One client of mine is bank recovery agent commission) & LIC agent also. I prepared Capital & balance sheet for the year 14-15. The LIC commission credited in Capital Account & Business income in P & L account. My question is shall I treat LIC commission in other income in computation. please guide me.
thanks
One client of mine is bank recovery agent commission) & LIC agent also. I prepared Capital & balance sheet for the year 14-15. The LIC commission credited in Capital Account & Business income in P & L account. My question is shall I treat LIC commission in other income in computation. please guide me.
thanks
14 August 2015
Since he is LIC agent income from LIC commission should be included in business income.
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