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20-07-2007, 08:10
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 Accounting Books : LIC agent : filing Income Tax Returns? Being an LIC agent, I earn comission on my agency business, However I have not kept a record of my expenses incurred while performing my agency business like printing and stationery, conveyance, telephone bills, etc......... How should I show the above expenses while computing my net income ? I procured business of Rs. 5500000/- for the LIC for which I have received Gross commission of Rs. 55,000/- during 2006-07. Can I show the expenses on a presumptive basis, say 10% of 55,000/- since I don't have the actual day - to day record... Else, what is any other method to show the expenses in my Net-Income computation? Thanking you in anticipation for your guidance and help in this direction.
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Te gjitha oret jane ne GMT +1. Ora tani eshte 07:30.
