insurance commisssion

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2010 can any one tell i.c.is taxable under which head,why.moreover an agent does not maintains books of accounts then how to deduct expenses

Rahul Gupta (Expert)
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09 July 2010 For an agent, it is included under Business or Profession.

CMA RV Padmakumar.A (Expert)
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09 July 2010 income from business or profession

Insurance agency is a profession as well as a business

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