Commission from sale of mutual funds and ITR filing

This query is : Resolved

Suraj (Querist)
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03 September 2021 Dear All,

My query is as follows:

1) Besides salary income and capital gain on sale of shares, Mr A earned commission of Rs. 76620/- from sale of mutual funds to his clients during FY 2020-21. This commission is directly credited to his bank account.
2) How to show this commission income in ITR? Which ITR to be used?
3) Can we show it under Commission business without books of accounts?
4) Can we claim some expenses like mobile bills, conveyance?

Kindly guide.

Thanks & Regards,
Suraj

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 September 2021 2 Use ITR 3 show it as service receipt.
3 show it as no accounts case.
4 yes, you can claim such expenses.

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Suraj

Suraj (Querist)
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03 September 2021 Thank You CA R Seetharaman Sir.

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