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Whether, at the time of deducting tax from insurance commission credited to agent's account, adjustment for debits made earlier is permissible
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....lier is permissible 1. A doubt has been raised whether at the time of deducting tax from the insurance commission credited to an agent's account adjustment for the debits made earlier is permissible or not. At the time a proposal is brought by an agent, his account is credited with the appropriate amount of commission. It may happen after some time that a portion of the premium paid earlier is ....
TaxTMI