Itr 4s for lic agent
This query is : Resolved
22 August 2016
A LIC AGENT WHO HAVE COMMISION INCOME OF RS. 10 LAKH , CAN SUBMIT ITR 4S WITH OPTION OF 8% PROFIT ?
22 August 2016
The provisions of section 44AD shall not apply to—
------a person earning income in the nature of commission or brokerage; or
--------a person carrying on any agency business.
------a person earning income in the nature of commission or brokerage; or
--------a person carrying on any agency business.
Message likes :
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22 August 2016
can he file normal ITR 4 with declere 25% profit with out audit?
22 August 2016
why not? ITR 4 can be filed......
For the current year, just go through 44ADA as well.....
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
For the current year, just go through 44ADA as well.....
https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
24 August 2016
but sir section 44 ADA is only for professional, with declered 50% profit
but lic agent are not covered under defination of professional
but lic agent are not covered under defination of professional
24 August 2016
ok... then go as you said..... ITR 4 and 25% profit....
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