Commission income under Section 194JB
This query is : Resolved
28 June 2022
Dear Sir,
One of my client has earned Commission income from an Insurance company and the company has deducted TDS @ 10% under Section 194JB
My query is while filing his Income tax return under which head of Income should I consider this income. Can I take this income as Other source income since commission income does not come under Presumptive Taxation scheme under Section 44ADA.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client has earned Commission income from an Insurance company and the company has deducted TDS @ 10% under Section 194JB
My query is while filing his Income tax return under which head of Income should I consider this income. Can I take this income as Other source income since commission income does not come under Presumptive Taxation scheme under Section 44ADA.
Please help me in this matter.
Regards,
Divyesh Jain
28 June 2022
Your can show same under Income from Other aourcesy
29 June 2022
Ok, Thanks for your reply
29 June 2022
Welcome..............
11 July 2022
As TDS has been deducted, it is always advisable to file ITR3, to safe guard against any defective notice.
08 January 2023
If the main business is of Insurance agent, then better file for Income from Business and profession and claim relevant expenditure for the business activity.
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