Insurance commission?

Dear Sir,

                 I,Ronak Darji,being student as well as LIC agent earning commission,

as per my knowledge If your income limit cross beyond 160000,then you should

Prepare P&l and B/s,in which you can file your income tax return.Further all

expenses you were incurred during the whole year should keep recorded in your

Profit & loss A/c.As well as if you were invest money in LIc then you got Deduction

Under Section 80 C.After discussing if you are not preparing P&L and B/S then also

there will be no issue in near future.

Regards,

Ronak Darji

agree with RONAK                                                

agree with RONAK                                                

you need to prepare p& l account.. to prove income from business.. in filing your return