Lic agent comm.& salary income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2014
Hi,
I am having income from Salary and income from LIC Commission (As Agent).Which ITR Should i use to file income tax return for AY 14-15.Under which head shoul i show commission income.Actually Exp to generate business is more than the commission received from LIC.Can this loss be adjusted with salary income.
Thanks in Advance
I am having income from Salary and income from LIC Commission (As Agent).Which ITR Should i use to file income tax return for AY 14-15.Under which head shoul i show commission income.Actually Exp to generate business is more than the commission received from LIC.Can this loss be adjusted with salary income.
Thanks in Advance
05 June 2014
commission income is business income and loss cannot be setoff against salary income
.
.
file ITR4
.
.
commission income as profit and gains from business income shown in p&L sheet
..
salary in salary sheet which may be found in PartB sheet
.
.
file ITR4
.
.
commission income as profit and gains from business income shown in p&L sheet
..
salary in salary sheet which may be found in PartB sheet
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