Deduction in case of commission of insurance agents.

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Full Text of the Document

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....y the insurance agents are not maintained, an adhoc deduction for expenses at the rate of 40 per cent of the first year's commission should be allowed. A ceiling of Rs.6000 in respect of such expenditure where the gross insurance commission do not exceed Rs.20,000 was laid down and the discretion to grant a larger allowance not exceeding Rs.10,000 in special circumstances was explained in detail. ....