24 July 2014
I have assumed LIC commission to be income from other sources and filed itr 1 . Am I correct or should I file itr 4 and consider the income as pgbp
24 July 2014
Dear, There is no problem at all regarding to choose form for filing ITR for LIC commission. Generally LIC agent file the return for the purpose of taking refund. You can choose ITR 1 or 2 or 4 as your wish.
24 July 2014
Technically ITR4 should be filed but even you have shown it as other income in ITR1 or ITR2 and claimed refund you will get away with it. But the appropriate return is ITR4.
CAclubindia
