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Bank interest greater than commission
I am a commission agent since 2 yrs I am paying Bank od interest greater than my commission.. and showing loss in income tax... will I get a notice for it
Replies (4)
Department can ask that y are you piling up loss from 2 years every month.
OD interest is for what purpose ? it may not be allowed.
od is for businesses reason we are like agents we sell farmers good to traders and take 2 percent commission.. traders make the payment delay so we make payment to farmers by OD
Still it may not be a convincing argument for business loss
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