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Taxable in head
lic agent comission is taxable which head eather bussiness and profession or income from other resources
Replies (4)
PGBP - BUSINESS
Note that 44AD presumptive taxation is not available on such income.
If commission amount is meagre , you may consider it under IFOS.
If commission amount is meagre , you may consider it under IFOS.
It is not covered under the list of professionals of provided in income tax act hence it's taxable under business income
Business
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