sec 44ab
This query is : Resolved
28 January 2011
Good Morning
Plz guide me to be aware about the section in case of LIC Commission agent
Plz give the case studies in which it has been specifically stated that the commission will be treated as Professional Income or Business Income.
Plz guide me to be aware about the section in case of LIC Commission agent
Plz give the case studies in which it has been specifically stated that the commission will be treated as Professional Income or Business Income.
28 January 2011
I think sale of LIC policy is profession not a business, since it required special knowldge and qualifiaction.
28 January 2011
Icai in their publication "issues on tax audit" says, insurance agency may be considered as 'business'.
Guest
Guest
(Expert)
28 January 2011
Agree with Mr. Warrier
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
