An assessee has salary income of around2 lac, and also has around50,000 commission income from LIC of India, but no books of account has been maintained.
Now, can he claim expenditure that has been incurred towards earning commission??
If yes, to what extent can he claim the expenditure?
WITHOUT PROPER BOOKS EXPENDITURE CAN NOT BE CLAIMED
What kind of expenses he wants to claim. All reasonable expenses is allowed as deduction. No need to maintain accounts since receipts do not exceed 1,20,000. S 44AA.
Practical advise
Pure india mein sirf tumhari file ko scrutiny nahin karenge. Bindas reasonable expenses ka deduction claim karo.
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