Income tax forms to be used.
This query is : Resolved
MANJUNATHA M.R
(Querist)
15 July 2014
Dear Experts I am an salary employee received form 16. Besides that I have also doing LIC Agency and received some commission from LIC & Star Health Insurance. Which ITR Form I am used to file My IT Return. Please guide me Thanks in Advance.
CA Mohit Bansal
(Expert)
15 July 2014
You may use ITR1 for filing return
Sandeep Dharar
(Expert)
15 July 2014
Manjunatha u can fill ITR-1 or ITR-2. Better if use ITR-2.
Sandeep Dharar
(Expert)
15 July 2014
Manjunatha u can fill ITR-1 or ITR-2. Better if use ITR-2.
15 July 2014
only itr 4 is applicable since commision is considered as business income and itr4 is applicable.
15 July 2014
Agree. ITR4 needs to be filed.
CA Mohit Bansal
(Expert)
15 July 2014
Mr. Tushar,
As he is drawing full time salary from his employer, commission from LIC would be income from other sources, Would he had been only LIC agent receiving commission would have been come under PGBP. In this case, ITR1 is applicable
As he is drawing full time salary from his employer, commission from LIC would be income from other sources, Would he had been only LIC agent receiving commission would have been come under PGBP. In this case, ITR1 is applicable
MANJUNATHA M.R
(Querist)
15 July 2014
Small Portion of Commission is also treated as Business Income Sir
15 July 2014
commision income is income from business only and not from other sources even though he is full time employee n hence itr-4 is applicable.
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