One my client register in composition for mutual fund distributor he also received commission in life insurance & health insurance commission ( mutual fund commission he pay tax 6% remaining life insurance & health insurance commission) how to showing in CMP -08
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About CMP-08
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Reporting in CMP-08: it is a statement for taxpayers under the coposition scheme. You need to show the turnover and tax liability.
Check if life and healh insurance commissions are part of the turnover for composition levy Typically, for composition dealers tax is paid on turnover from goods/services they are registered for.
If these commissions are part of taxable turnover, include them in the turnover calculation for CMP-08 and pay tax accordingly.
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