Taxability
Querist : Anonymous
Mr X had following Incomes for the F.Y. 2013-14:
Salary Income - 100000.00
LICI Commission Income - 130000.00.
Now, my queries are:
1.LICI Commissions taxable under which head?
2. What amount of expenses he can claim from LICI Commission Income?
If X is receiving fix salary and the commission is also received from the same employer from which salary is received, then Commission will b taxable as a part of Salary.
Querist : Anonymous
No, Salary Income is from other Employer.
If LICI Commission for RS. 130000.00 is to be taxed under PGBP, then what will be the amount of deduction?
And if LICI Comission is to be taxed under Other Sources, then what will be the deduction?
Querist : Anonymous
No, Salary Income is from other Employer.
If LICI Commission for RS. 130000.00 is to be taxed under PGBP, then what will be the amount of deduction?
And if LICI Comission is to be taxed under Other Sources, then what will be the deduction?
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