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ITR for insurance commission income

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sathiyamurthy

sathiyamurthy (Querist)
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30 July 2008 Can income from insurance commission be shown under Income from other sources? Can ITR - 2 be filed in respect of the insurance commission income?

CA Anand Sarda

CA Anand Sarda (Expert)
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30 July 2008 Its upto u. U can show it as ur business income or income from other sources.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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31 July 2008 In my opinion, yoh will have to furnish the return ITR 4, as insurance commission will fall under the head of Income from Business or Profession and business expenses on adhoc may be claimed as per Circular No 648 dated 30.03.93.

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