Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Maninder Singh (STUDENT)     18 September 2021

Expense deduction from commission income.

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???


 5 Replies

Dhirajlal Rambhia

Dhirajlal Rambhia (SEO Sai Gr. Hosp.)     18 September 2021

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.

1 Like
Sourav

Sourav (Student)     19 September 2021

Agree with above comment
1 Like
Maninder Singh

Maninder Singh (STUDENT)     19 September 2021

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???
Dhirajlal Rambhia

Dhirajlal Rambhia (SEO Sai Gr. Hosp.)     19 September 2021

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'

Dhirajlal Rambhia

Dhirajlal Rambhia (SEO Sai Gr. Hosp.)     19 September 2021

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'

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags