Commission earned by insurance agents of Life Insurance Corporation--Allowance of expenditure

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..... th January, 1984, had granted, subject to conditions therein specified, the benefit of ad hoc deduction in respect of the expenses incurred by agents of the Life Insurance Corporation. 2. In supersession of the above circular and instruction, the Board have decided that the benefit of ad hoc deduction to insurance agents of the Life Insurance Corporation having total commission (including first y .....

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..... puting the total income, and no ad hoc deduction will be allowed from this amount. 5. The benefit of ad hoc deduction will not be available to agents who have earned total commission of more than Rs. 60,000 during the year. The admissibility of the expenditure claimed by such agents will be decided by the Assessing Officers as per the provisions of the Income-tax Act. 6. This will apply to the a .....

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