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Itr form for commision agent.

30 May 2017

I am a commision agent to sale various product(i.e Fixed Deposit) of different companies so which ITR should i filled and also i need to pay certain percentage of incentive some of my customer so how to fill those incentive in ITR form ?

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7 Replies

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 30 May 2017

Please mention the amount of Gross receipts & Gain?

Priyanka Haldar (7 Points)
Replied 30 May 2017

Gross Receipt 196990

Expences 118500

Gain 78490

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 30 May 2017

You have to use ITR-3 only...

You can't use ITR-4 as you are not eligible for presumtive.

Don't needs to declare expenses(As like Incentive) use no account case.

Priyanka Haldar (7 Points)
Replied 30 May 2017

So it's can be fill in 53 in NO ACCOUNT CASE

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 30 May 2017

Yes you are correct...

You have anything related with B/S. Then fill the B/S...

NO ACCOUNT CASE	6	In a case where regular books of account of business or profession are not maintained -furnish the following information as on 31st day of March, 2017, in respect of business or profession)
		a	Amount of total sundry debtors	6a
		b	Amount of total sundry creditors	6b
		c	Amount of total stock-in-trade	6c
		d	Amount of the cash balance	6d

you have to use 53(ii).. for P/L

NO ACCOUNT CASE	53	In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2016-17 in respect of business or profession
		(i)	For assessee carrying on Business
		a	Gross receipts	53(i)a
		b	Gross profit	53(i)b
		c	Expenses	53(i)c
		d	Net profit	53(i)d	0
		(ii)	For assessee carrying on Profession
		a	Gross receipts	53(ii)a
		b	Gross profit	53(ii)b
		c	Expenses	53(ii)c
		d	Net profit	53(ii)d	0
			Total (53(i)d + 53(ii)d)	53	0