Brokerage income head

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senior associate
264 Points Posted on 06 July 2015

If brokerage income is earned by a sub broker from trading of shares 
such income should be taxed to the sub broker under which head

business income or income from other sources ?

his main income is income from salary

and no business income

and many other other sources income

like

income from teaching at college and classes, interest, dividend etc

 

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On 06 July 2015 at 16:52 Report
Replies (8)
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accounts
488 Points Posted on 06 July 2015
I think it is income from other source
1 Reply
On 06 July 2015 at 17:18
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Senior Divisional Manager
714 Points Posted on 06 July 2015
Business income as sub broker's main profession is business only.
1 Reply
On 06 July 2015 at 18:59
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Consultant
85 Points Posted on 06 July 2015
Agree with Rajeshwari Kumar.
1 Reply
On 06 July 2015 at 19:03
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proprietor
32 Points Posted on 06 July 2015
Business income as his main source of is brokerage.if his main business is other than sub broker and income is more in other business.then he can treat it as other income
2 Reply
On 06 July 2015 at 20:36
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Practising CA
449 Points Posted on 06 July 2015
Business Income..
1 Reply
On 06 July 2015 at 21:00
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CA Final CS Final
629 Points Posted on 06 July 2015
Its business income . Mr kanan its Rajesh Kumar & not Rajeshwari kumar
1 Reply
On 06 July 2015 at 21:08
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Accounts/Finance & CA Final Student
200 Points Posted on 06 July 2015
It's Business Income
1 Reply
On 06 July 2015 at 21:20
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article
96 Points Posted on 08 July 2015
Sub broking is part of business activity for which he is employed so it comes under business income cases n nt other sources as activity of sub broking is not a extra activities from which he is getting his income
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On 08 July 2015 at 00:44

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