Lic agent computation


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Querist : Anonymous

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Querist : Anonymous (Querist)
01 July 2013 Dear Sir/Madam,

If LIC agent commission received more than 5.00 lac. How to calculate their income u/s 57.

01 July 2013 You can claim any expenses incurred by you for earning such income.

i.e. your income will arrive as

Commission = 500000
Less: expensens incurred for earing commission

balance amount will be treated as income from o/s

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 July 2013 If he is involved in other business so how to compute their income, Example Commission 5,00,000 & other business 2,00,000/-

01 July 2013 calculate profit form each business separately and club both the income together


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