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Professional Expenses

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(Querist)
28 January 2022 Hi Everyone,
How much expenses in % terms of gross receipts can be claimed on income earned in the form of brokerage by an insurance(non-life) / mutual fund advisor(free lancer) for FY 21-22 ? If possible, please refer relevant section of the Act as supporting.

Thanks
Rajesh Jain
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2022 50% can be claimed as expenses.
Office rent and traveling expenses.
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Rajesh

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Rajesh (Querist)
15 February 2022 Any relevant section which can be referred ?



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 February 2022 44ADA it's only for reference of 50% income.

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