Income earned by the way of brokarage or commission .
This query is : Resolved
15 December 2013
Dear sir,
As a individual I have earned income by selling the goods other party & i m getting commission for that. So for the purpose of to Return ITR do i need to keep books of a/C ? under which head I should show this income.
As a individual I have earned income by selling the goods other party & i m getting commission for that. So for the purpose of to Return ITR do i need to keep books of a/C ? under which head I should show this income.
15 December 2013
yes. you need to maintain books subject to conditions under section 44AA . the said income shall reflect in ITR4 as income from Business/profession.
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16 December 2013
yes books of accounts needs to be maintained as per sec 44AA and file itr4.
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16 December 2013
Can i show this income under the head "Income from other sources". some of my freinds said that you may show it under above head. so need I require to keep books of A/c .
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