Itr for salry & commission
This query is : Resolved
04 January 2014
MY ONE FRIEND IS GETTING SALRY FROM ONE COMPANY WHICH IS UNDER TAX LIMIT & APPROXI 2.20 LAKH
HE IS ALSO RECEIVING COMMISSION FROM LIC MORE THAN 1 LAKH yearly,
is it necessary to show salry also in itr
HE IS ALSO RECEIVING COMMISSION FROM LIC MORE THAN 1 LAKH yearly,
is it necessary to show salry also in itr
Ganeshbabu K
(Expert)
04 January 2014
yes mandatory to show salary also in ITR
.
.
you have to use ITR4, as commission income is taxable under head business or profession
.
.
.
.
you have to use ITR4, as commission income is taxable under head business or profession
.
.
Ganeshbabu K
(Expert)
04 January 2014
cannot file ITR2 if assesse having business income
.
in my opinion ITR4 mandatory in above case
.
in my opinion ITR4 mandatory in above case
04 January 2014
ITR 4 is applicable as he is receving commision from LIC business and ITR 2 is not applicable in this case.
CA Y.Kondal Reddy
(Expert)
05 January 2014
4s is yo use
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