banner_ad

Insurance Commission

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 February 2011 Mr. X is expecting a commission of Rs. 3.5 lacs for this financial year. Can I make a P&L A/c and claim expenses and whether it is compulsory for him to maintain books of accounts in this case?

Regards,
Devendra
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
03 February 2011 Yes, Books of Accounts are compulsory.
You first make Books of Account and after that prepare profit & loss a/c.
Profile Image

Guest

Profile Image

Guest (Expert)
03 February 2011 Agree with Mr. Bafna
Profile Image

CA Manikandan.A.V

Profile Image

CA Manikandan.A.V (Expert)
04 February 2011 For an agent earning more than Rs. 60K in a FY, shall claim expenses under the IT Act. In that case he need to maintain books prescribed as per Sec. 44AA
Profile Image

Guest

Profile Image

Guest (Expert)
05 February 2011 Agree with experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details