Income tax return to be filed.

This query is : Resolved

K.G.Shah

K.G.Shah (Querist)
Follow

19 July 2022 Hello Sir,
Mr X is having income from
1 . Interest on Deposit. 2.00
2. Commission from LIC. 0.25
3. Income short term gain 1.00
4. Income from Intraday 0.25
5. Income from LT Gain ( exempt)
6. Income from Zerox/ typing. 2.50
Total 6.00

My question is
1) Income from LIC commission is business income or income from other sources ...?

2) for Income from business / Zerox . and Intra day profit
. Can I show in ITR 4 ( u/s 44 AD) or ITR 3 ?
No books maintained for Zerox business.

3 ) 2 years back ITR 3 filed .

So i have to file ITR 3 or ITR 4 ?
Please guide for this and for lic commission where to be clubbed .

Thanx for reply .one my small query is while filing return WHICH BUSINESS CODE TO BE SELECTED ....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

19 July 2022 1 Business income.
2 yes, file ITR 3.
3 No problem.

K.G.Shah

K.G.Shah (Querist)
Follow

20 July 2022 Thanx Sir for quick reply .
One small query is while filing return which business code to be selected ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

20 July 2022 Use 09005 - General commission

K.G.Shah

K.G.Shah (Querist)
Follow

20 July 2022 Thanx sir for reply . I would like to state that assessee has income from following
Income from Zerox business
Income from LIC comission
Intra day .
Then code for commission 09005 is proper one ? . Or some other to be selected.

CA Puja Sharma

CA Puja Sharma (Expert)
Follow

20 July 2022 Also add 1 more code for 21008 for xerox business which falls under Other Services.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok