Income from commission or brokerage under which head
Answers
Answered by
3
Income from commission or brokerage :-
There are two rules regarding income from commission or brokerage. These are as follows.
1) If any person is wholly engaged in commission or brokerage business and it is the main source of that particular person's income then definitely the commission or brokerage income will be considered as Income from
Business and Profession and shall come under this head.
2) If any person is not wholly engaged in commission or brokerage business and it is that particular person's extra income. Also it is not the main source of income for that person then it will be considered as Income from Other Sources and shall come under this head.
There are two rules regarding income from commission or brokerage. These are as follows.
1) If any person is wholly engaged in commission or brokerage business and it is the main source of that particular person's income then definitely the commission or brokerage income will be considered as Income from
Business and Profession and shall come under this head.
2) If any person is not wholly engaged in commission or brokerage business and it is that particular person's extra income. Also it is not the main source of income for that person then it will be considered as Income from Other Sources and shall come under this head.
Similar questions