Income from lic
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2013
respected sir/ madam,
a person having income from lic business ie commission , and income from salary while filing the return which itr form should be used so that tds which is deducted by lic can be claimed?
a person having income from lic business ie commission , and income from salary while filing the return which itr form should be used so that tds which is deducted by lic can be claimed?
Guest
Guest
(Expert)
22 February 2013
In my opinion, ITR-4 to be filed.
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CA Suraj Lakhotia
(Expert)
22 February 2013
Commission is income from other sources and the other income you have is income from salary. So you can file return in ITR 1.
Nikhil Kaushik
(Expert)
22 February 2013
Dear Suraj,
I beg to disagree here. Commission doesn't form part of income from other sources unless and until it is specifically excluded from "income from business and profession"
So unless the above can be proved, ITR4 as CA Ashish suggested shall be the right Form to use.
I beg to disagree here. Commission doesn't form part of income from other sources unless and until it is specifically excluded from "income from business and profession"
So unless the above can be proved, ITR4 as CA Ashish suggested shall be the right Form to use.
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CA Suraj Lakhotia
(Expert)
23 February 2013
Thanks for the clarification. I stand corrected.
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