can a post office agent who earn commission income
can deduct amount payed to a person appointed for collection as expense from total commision?? . if he pay him on monthly basis
can this monthly payment be deducted from commission income???
Menu
Expense deduction from commission income.
Replies (6)
As such all the expenses incurred to earn the income are deductible. Check TDS liability also.
In this case, when the payments are made on regularly basis, the same may be considered under Salary head.
Agree with above comment
Due to tds he filling itr. as I know their is no column in ITR to mention such expense . so should mention the income in itr after deducting this payment from commission earned and keeping the record of the monthly payments or their is any column to mention this expense???
Post agent kind divert his income to other person. It his liability to pay tax over the total commission income, less any expenditure, which he gets. As he pays some regular amount to his assistant, it can be deducted in proper head, be it salary or commission. or fees; whatever you name it. The same heads are available in ITR under 'Schedule P&L'
Post agent can't divert his income to other person. It his liability to pay tax over the total commission income, less any expenditure, which he gets. As he pays some regular amount to his assistant, it can be deducted in proper head, be it salary or commission. or fees; whatever you name it.
All these heads are available in ITR under 'Schedule P&L'
Dhiraj lal ji so tell which itr form should be used. As I checked ITR 1 which think do not have such options
Recent Topics :
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
- NPO registered under sec 8 itr filing
- Form 144 (Earlier 27Q) – Reason Code (A/C/G/
- Nps taxation
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
Related Topics :
CAclubindia
