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Itr4s (Income Tax)

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This query is : Resolved

( Author )
21 June 2012

can lic agents file their income tax return in form ITR4S.

CA Siddhartha Bhardwaj

( Expert )
21 June 2012

Section 44AD has been retrospectively amended wef AY 11-12 to provide that the provisions of Section 44AD are NOT applicable to agency or commission income.

Accordingly, LIC agents CANNOT avail benefit of Section 44AD.

They will have to file ITR 4.

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