Ad-hoc deduction for authorised agents increased and extended to listed securities where no accounts are maintained. The Board directs that an ad hoc deduction at the rate of 50 per cent of gross commission receipts for expenses be extended to authorised agents of Unit ... Summary
Ad-hoc deduction for authorised agents increased and extended to listed securities where no accounts are maintained.
The Board directs that an ad hoc deduction at the rate of 50 per cent of gross commission receipts for expenses be extended to authorised agents of Unit Trust of India and agents selling National Savings Certificates (II, VI and VII Issues), Social Security Certificates and Post Office Time Deposits. The deduction is available only where gross commission earned is less than Rs. 60,000 and no detailed accounts are maintained.
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