Commission as business income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 March 2014
Sir,
My question is with respect to commission income received from Developers and Realty sectors (Rs.3,02,460) on which TDS under 194I (Rs.30,246) has been deducted (as reflecting in 26AS).
This is the main source of Income. Should the above commission income be taxed under "Income from Business and Profession". and filed in ITR-4, if so should the assessee file Balance Sheet and Trading P&L A/c??
My question is with respect to commission income received from Developers and Realty sectors (Rs.3,02,460) on which TDS under 194I (Rs.30,246) has been deducted (as reflecting in 26AS).
This is the main source of Income. Should the above commission income be taxed under "Income from Business and Profession". and filed in ITR-4, if so should the assessee file Balance Sheet and Trading P&L A/c??
26 March 2014
yes income from business and profession and file itr 4.
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