ITR form Related for 194H


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This discussion clarifies which Income Tax Return (ITR) form is appropriate for individuals receiving commission income under Section 194H. While ITR-2 might be considered for small amounts, ITR-3 is generally recommended, especially for an income of Rs. 4.50 lakhs. The commission income should be declared under the 'Profits and Gains of Business or Profession' (PGBP) head, requiring the submission of a profit and loss account and balance sheet. Section 44AD is not applicable for commission income.

22 November 2021 dear sir

Which ITR should be filed for income received from commission 194H ???
And witch head ????

please suggest me


Regards
Madhu M

22 November 2021 For Individual, file ITR 3.
If the income under commission is in small amount, can think of ITR 2.

22 November 2021 Thank you sir
income is 450000/- only sir so ITR 2 is ok sir ???? and witch Head sir ???

22 November 2021 If commission income is Rs. 4.50 lakhs, file ITR 3.

22 November 2021 Thank you sir

Madhu M

22 November 2021 Thank you sir
can u please tell Head of income is other or business ???

22 November 2021 Under Business head (PGBP).........

23 November 2021 For commission income, you have to fill up profit and loss account and balance sheet as well in form 3. s. 44AD is not applicable for commission income.

25 November 2021 thank you very much sir

25 November 2021 My Pleasure ...


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