Income tax on insurance commission received and itr form
This query is : Open
Ramamurthy K
(Querist)
13 July 2018
I am a pensioner and receiving pension every month. Now I am new insurance agent. I have received a commission of Rs 96000 during the FY 2017-18. I want to know:
(1) Whether the entire amount of Rs 96000 is taxable or any deduction is admissible
(2) The Head under which the income should be shown
(3) ITR Form to be used by me for filing my Income Tax return.
I have no other income expect Pension and the commission said above.
Please answer me above three queries.
Thanks and regards
Ramamurthy K
(1) Whether the entire amount of Rs 96000 is taxable or any deduction is admissible
(2) The Head under which the income should be shown
(3) ITR Form to be used by me for filing my Income Tax return.
I have no other income expect Pension and the commission said above.
Please answer me above three queries.
Thanks and regards
Ramamurthy K
13 July 2018
ITR 3 is suitable for your above said Incomes....
But.,
You can't says your Pension income values. So, If it's above basic exemption limit then You can move with ITR 3.
But.,
You can't says your Pension income values. So, If it's above basic exemption limit then You can move with ITR 3.
Ramamurthy K
(Querist)
15 July 2018
Total pension received by me during the FY 2017-18 is Rs 573770
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