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VIDYAMANI B S (Querist)

17 July 2013 Dear sirs,
I have below listed category of filing to be done for Individuals.
1. Salary income + LIC Commission
2. Salary income + FD Interest
3. Income from Commission or Brokerage(Sec. 194H)
Kindly clarify if I can use ITR 1 for all the above cases. If no, which other form to be used and what is the difference it makes if I use ITR 1 for all cases.
Thanks in advance.
Vidyamani.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

17 July 2013 1. 1st case - file ITR- 4 since having LIC commission income

2. 2nd case file -ITR- 1

3. 3rd case - ITR -4 since the business income of commission and brokerage

VIDYAMANI B S

VIDYAMANI B S (Querist)

18 July 2013 Thank you so much Mr. Ramesh.

Just wanted to know, why cant I use ITR 1 for all cases and show LIC Commission, FD Interest and Commission or Brokerage under Income from other sources? Because, in case of eg. 3 above, it is the monthly Salary shown by the company as Commission/Brokerage and TDS accounted u/s 194H.

Thank you once again.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

18 July 2013 LIC commission & other commission defined under Income from business, so suggested to file only ITR-4.

ITR-is specified only for those having salary & other sources income.

As you are declaring all the income properly, filling different ITR will not make any issue

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