under which head trade commission received from a non-employer falls ? is it income from other sources or business income(tds deducted under 194h)..whether it can be included under general commission agents under business and claim deduction....
GOPAKUMAR (Partner ) (46 Points)
30 July 2009under which head trade commission received from a non-employer falls ? is it income from other sources or business income(tds deducted under 194h)..whether it can be included under general commission agents under business and claim deduction....
Sourabh Sharma
(CS CA (Final) M.com NCFM Derivative Capital Market Mutual Funds)
(771 Points)
Replied 31 July 2009
Commission income is to be taken under other sources if the main source of income is something else like Salary. But if the commission is the major source of income then it should be taken under income from Business & profession.
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