No account case
This query is : Resolved
MOHIT SHARMA
(Querist)
03 October 2015
SIR I AM A GENERAL COMMISSION AGENT AND HAS GOT COMMISSION OF 6.5 LAKH IN AY2015-16.
I WANT TO ASK WHETHER I CAN OPT FOR NO ACCOUNT CASE IN ITR 4 OR NOT?
AND WHETHER I CAN CLAIM SOME EXPENSES OF TRAVELLING NATURE?
PLZ REPLY
I WANT TO ASK WHETHER I CAN OPT FOR NO ACCOUNT CASE IN ITR 4 OR NOT?
AND WHETHER I CAN CLAIM SOME EXPENSES OF TRAVELLING NATURE?
PLZ REPLY
Amol S Joglekar
(Expert)
03 October 2015
You can opt for NO ACCOUNT CASE in itr4, no issues.
You can very well claim some expenses of travelling nature so far as they are related to earning the commission.
(You can also opt for 44Ad and accordingly you can file ITR 4S. That might ease out your life a liitle more than what youare doing with ITR 4)
You can very well claim some expenses of travelling nature so far as they are related to earning the commission.
(You can also opt for 44Ad and accordingly you can file ITR 4S. That might ease out your life a liitle more than what youare doing with ITR 4)
03 October 2015
@ Mohit Ji
1.You can opt" no account case" only if the total income < or = Rs. 1,20,000.
2. Expenses incurred to earn income can be deducted from Rs. 6,50,000.
@ Amol Ji
Can't opt 44AD being 'commission agency'. Pl see subsection 6(ii) & (iii).
1.You can opt" no account case" only if the total income < or = Rs. 1,20,000.
2. Expenses incurred to earn income can be deducted from Rs. 6,50,000.
@ Amol Ji
Can't opt 44AD being 'commission agency'. Pl see subsection 6(ii) & (iii).
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