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INSURANCE COMMISSION

Tax queries 446 views 3 replies

HI, CAN ANYBODY TELL ME, IF I RECEIVE INSURANCE COMMISSION OF RS. 90,000

THE ADHOC DEDUCTION IS NOT APPLICABLE BUT FOR CLAIMING THE EXPENDITURE

CAN I HAVE TO PREPARE THE P/L A/C OR CAN I ALSO CLAIM IN THE NO ACCOUNT CASE.

PLS HELP

Replies (3)
You will have to prepare a P & L a/c giving details of all income and expenditure incurred

BUT IAM NOT FALLING U/S 44AA, EVEN THEN I HAVT TO PREPARE BOOKS.

Yes... Bec it'll help u prove that yr limit doenst exceed the limit prescribed.......


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