do we need to maintain accounts for commission income earned by business correspondent agents?
how to proceed with filing itr of such assessees?
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Business correspondent agent itr
Replies (12)
Quick Summary
Yes Commission received from the bank is taxable and separate account may be prepared for that
Need details of commission income only to file ITR
Is there any limit above which we need to maintain books of accounts?
or even small amount of commission also require books of accounts to be maintained?
or even small amount of commission also require books of accounts to be maintained?
If the income exceeds Rs.2,50,000 or turnover exceeds Rs. 25,00,000 then books of accounts are mandatory for commission agents(individual + HUF) u/s 44AA.
Is it including 44ad income .....or only commission income limit?
Including 44AD income
Thank u everyone for helping me 😊😊
Welcome Dear....
What will be the turnover for a Banking Correspondent. Only the commission received or the total work done as BC which may run into crores whereas the commission comes only few lacs.
Urgent
WHAT WILL BE THE TURNOVER FOR BUSINESS CORRESPONDENT ?
are you received answer for this ?
can you give me information about that turnover?
what is the business code for filing ITR for Banking Correspondent Business
Comission received by BC Is only his income.
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