Tax treatment of commission agent

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2013 Hello users..
I am a commission agent of post office. My commission income in F.Y. 2012-13 is Rs. 500000/- on which tds @10% has been deducted.
Now i want that the whole amount of tds deducted i.e. Rs. 50000/- refunded.

My question is what can i do if i want the whole amount refunded..??????

Please solve my query as soon as possible..:)

18 June 2013 the whole amount will be refunded only if your gross total income is below exemption limit.

but as your income is high , you should contact a ca for get refund.

18 June 2013 the whole amount will be refunded only if your gross total income is below exemption limit.

but as your income is high , you should contact a ca for get refund.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2013 No sir .
my question is what treatment i can do. means may i claim any expenditure on this income or not???

18 June 2013 yes , if you have done expenditure to get the same taxable income.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2013 SO MAY YOU PLEASE TELL UNDER WHAT SECTION I CAN CLAIM THESE EXPENDITURES??

18 June 2013 you can show your Business as commission agent and claim expenses.

refer section 30 to 44 of income tax act for the same.


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