Income from commission
This query is : Resolved
21 July 2019
Hi,
For AY 2019-20, which ITR should be file for Income from Commission from Life Insurance Agency where commission Income is more than Rs.60000/- ?
Presumptive Taxation is applicable ?
Please guide me asap
For AY 2019-20, which ITR should be file for Income from Commission from Life Insurance Agency where commission Income is more than Rs.60000/- ?
Presumptive Taxation is applicable ?
Please guide me asap
31 May 2020
ITR - 3
Insurance agents earning commission are required to file their returns using ITR - 3. It is essential to note that an entity whose income is by way of commission or brokerage cannot adopt the presumptive taxation scheme of Section 44AD.
Insurance agents earning commission are required to file their returns using ITR - 3. It is essential to note that an entity whose income is by way of commission or brokerage cannot adopt the presumptive taxation scheme of Section 44AD.
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