Is there any deduction u/s 57 for lic agent
Querist : Anonymous
if gross income of lic agent is less than 60000/ in a year then adhoc dedction of 33.33% is available . if figure of first year comm and renewal comm is available separately then 50% of first year comm and 15% of renewal comm subject to rs 20000/- is available. no ad hoc deduction on bonus comm.
Querist : Anonymous
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