Form 16 on salary and form 16 a on insurance comission
This query is : Resolved
31 July 2013
Hi All,
I had a form 16 on behalf of my salary (Profession : Software Engineer),
Form 16 A on behalf of Insurance Agent .
I came to know that i have to file ITR 4 . Under which code of nature of business i need to file the form 16 and form 16 A
I had a form 16 on behalf of my salary (Profession : Software Engineer),
Form 16 A on behalf of Insurance Agent .
I came to know that i have to file ITR 4 . Under which code of nature of business i need to file the form 16 and form 16 A
31 July 2013
0301-General Commission Agents
31 July 2013
Hi Gupta ,
Thanks you for reply
Can you please guide me under which tag of nature of business the
form 16 from Salary to be filed
Thanks you for reply
Can you please guide me under which tag of nature of business the
form 16 from Salary to be filed
31 July 2013
Salary will be shown in sheet "PARTB-TI-TTI-SAL" Schedule S. Nature of business related to professional income only and not Salary Income.
04 August 2013
Hi SanjayGupta,
Thanks for your reply.
I have few more quires please give me reply as soon as possible.
1) Insurance comission is filled under "PartA - PL" ->Tag :3 Other Income ->
Comission .
2) Salary Income is filled under "PartB-TI-TTI-SAL" -> Schedule S .
3) Deductions were filled under "80_" -> Schedule VI-A
4) TDS are filled at "TDS-TCS"
a) for salary income: Form 16 -> Schedule TDS 1
b) for insurance comission : Form 16A -> Schedule TDS2
Please correct me if any thing wrong in the above case .
Thanks in Advance.
Thanks for your reply.
I have few more quires please give me reply as soon as possible.
1) Insurance comission is filled under "PartA - PL" ->Tag :3 Other Income ->
Comission .
2) Salary Income is filled under "PartB-TI-TTI-SAL" -> Schedule S .
3) Deductions were filled under "80_" -> Schedule VI-A
4) TDS are filled at "TDS-TCS"
a) for salary income: Form 16 -> Schedule TDS 1
b) for insurance comission : Form 16A -> Schedule TDS2
Please correct me if any thing wrong in the above case .
Thanks in Advance.
05 August 2013
1) Insurance Commission to be filled in PART A-PL TAG 1 "Sales/ Gross receipts of business or profession (Net of returns and refunds and duty or tax, if any)"
You can also claim expenses related to professional income like Telephone, Conveyance etc.
Rest is fine.
You can also claim expenses related to professional income like Telephone, Conveyance etc.
Rest is fine.
05 August 2013
Thanks Gupta for your reply,
Few Queries :
1) Telephone Expenses , Conveyance etc
i do n't have any proof to show to IT dept,
My mobile is prepaid and is not dedicated phone for business profession.
2) Sorry for asking you again and again
TDS are filed at "TDS-TCS"
b) Insurance Comission(Form 16A) is filed at : Schedule TDS2 under other income
IS this fine or do i need to file in any other sheet dedicated to business.
Please let me know.
Few Queries :
1) Telephone Expenses , Conveyance etc
i do n't have any proof to show to IT dept,
My mobile is prepaid and is not dedicated phone for business profession.
2) Sorry for asking you again and again
TDS are filed at "TDS-TCS"
b) Insurance Comission(Form 16A) is filed at : Schedule TDS2 under other income
IS this fine or do i need to file in any other sheet dedicated to business.
Please let me know.
05 August 2013
TDS 2 is correct for form 16A.
05 August 2013
Thanks Gupta ,
In part A - General
1) Are you liable to maintain accounts as per section 44AA? Ans : No
2) Are you liable for audit under section 44AB ? Ans : No
3) Whetger taxpayer is lable to furnish a report under section 92 E ? Ans : No
Are the above answers fine ?
Please correct me if i am wrong.
and reply me soon .
In part A - General
1) Are you liable to maintain accounts as per section 44AA? Ans : No
2) Are you liable for audit under section 44AB ? Ans : No
3) Whetger taxpayer is lable to furnish a report under section 92 E ? Ans : No
Are the above answers fine ?
Please correct me if i am wrong.
and reply me soon .
05 August 2013
Absolutely correct.
05 August 2013
Heart full Thanks Gupta for your timely reply.
Finally i IT Returns filed successfully.
Finally i IT Returns filed successfully.
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