No account case

This query is : Resolved

MOHIT SHARMA (Querist)
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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

Amol S Joglekar

Amol S Joglekar (Expert)
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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)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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).

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