Dear friends , pl advice and clarify....
. In case of a Insurance Agent of a Insurance co., other than Lic , the commission is received in two parts I.e insurance commission and bonus commission. Tds and Service tax is deducted @ 10% and 12% resp. On the gross income. The agent is also in receipt of pension and has income from interest on FDs and CG from shares trading/investment.
Would request to advice on ...
The treatment of service tax, is it an expense ?
Other permitted expenses where no accounts are maintained. ...Limit of Ad-hoc deduction admissible ?
If ITR Form 4 is the one to be used or any other say ITR 4S ?
CAclubindia
