Commission on Premium Income

[Tarun]

Can some one explain that one of my friend is an agent of Life Insurance. He earned Rs. 75000/- as commission on premium during last year.

Beside that commission he also have income from salary which is Apx. 175000/- Per anum

He got some exemption against the commission earned in FY 2007-08. Please explain that what exemption should he gets on commission earned in FY 2008-09.

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