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?
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
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