It return clarification
This query is : Resolved
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.
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.
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
2. 2nd case file -ITR- 1
3. 3rd case - ITR -4 since the business income of commission and brokerage
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.
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.
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
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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