ITR 4S
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2011
Can insurance agent opt for filing ITR 4S? His income is around Rs. 4 Lakhs.
29 June 2011
insurance agents carrying on business can opt for ITR 4S,,
Message likes :
1 times
30 June 2011
Your income is Income from Other Sources and therefore the expert has correctly stated that you are not covered by ITR 4
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 June 2011
Insurance commission is chargeable to tax under the head 'income from business or profession' and not under 'Income from Other Sources' and also ITR 4 covers such income. I wanted to know whether ITR 4S can also be filed for such income on presumptive basis.
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