Deduction for expenses on commission payable to agents appointed under the Standardised Agency System for Government securities and the agents of Post Office Time Deposits and Unit Trust of India
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Ad hoc deduction for commission extended to authorised agents of specified savings and post office schemes. The Board permits an ad hoc deduction at the rate of 50% of gross commission receipts to authorised agents of the Unit Trust of India and agents for specified national savings and post office schemes where detailed accounts are not maintained and gross commission is below the notified threshold. The deduction applies to National Savings Certificates VIII Issue; Social Security Certificates; Post Office Time Deposit and Recurring Deposit Accounts; National Savings Scheme 1987; Post Office Monthly Income Account Scheme; Kisan Vikas Patra; Public Provident Fund Accounts; and the Deposit Scheme for Retiring Government Employees 1989.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Ad hoc deduction for commission extended to authorised agents of specified savings and post office schemes.
The Board permits an ad hoc deduction at the rate of 50% of gross commission receipts to authorised agents of the Unit Trust of India and agents for specified national savings and post office schemes where detailed accounts are not maintained and gross commission is below the notified threshold. The deduction applies to National Savings Certificates VIII Issue; Social Security Certificates; Post Office Time Deposit and Recurring Deposit Accounts; National Savings Scheme 1987; Post Office Monthly Income Account Scheme; Kisan Vikas Patra; Public Provident Fund Accounts; and the Deposit Scheme for Retiring Government Employees 1989.
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