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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Treatment to commission income - commission income earned by the ...

May 3, 2016

Case Laws     Income Tax     AT

Treatment to commission income - commission income earned by the assessee is chargeable to tax under the head of "Profits and gains of the business" only. As business, income it specifically falls under the specific heads of income as provided under section 14 of the Income-tax Act it cannot be taxed under the residuary head of income - AT

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