Itr form
This query is : Resolved
VIKRAM SINGH
(Querist)
05 June 2014
I AM INDIVIDUAL, I HAVE ONLY INCOME FROM SALE COMMISIION,NO ACCOUNTS BOOK MAINTAINED, WHICH ITR FORM SHOULD I FILE ?
05 June 2014
ITR4S as its business income for you and no books of accounts are maintained.
Nikhil Kaushik
(Expert)
06 June 2014
Dear Madhvi,
ITR4S cannot be used for commission income.
ITR4S cannot be used for commission income.
06 June 2014
ya it can not be used for commission from insurance business but i haven't seen that it cant be used for other type of commission
Nikhil Kaushik
(Expert)
06 June 2014
Dear Madhvi,
please refer Section 44AD(6)(ii)
"(6) The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
.........
(ii) a person earning income in the nature of commission or brokerage; or....."
44AD doesn't apply to any commission income.
please refer Section 44AD(6)(ii)
"(6) The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
.........
(ii) a person earning income in the nature of commission or brokerage; or....."
44AD doesn't apply to any commission income.
06 June 2014
ok.I will refer..Thnk you:)
Then in above query which itr can be used?
ITR-2?
Then in above query which itr can be used?
ITR-2?
Nikhil Kaushik
(Expert)
06 June 2014
Itr 4 only. Itr 2 cannot be used for business income
07 June 2014
since commision income is business income then itr 4 is only applicable in this case.
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