Problem in filling itr
This query is : Resolved
07 August 2014
Is there any minimum profit margin for individual earning income as commission income from birla sun life insurance. this will be taxable under business income or not?
07 August 2014
it will taxable under the income from business and profession head.
07 August 2014
how much minimum profit % to be shown in itr
07 August 2014
you need to show the actual profits. no minimum percentage is required
07 August 2014
Commission Income will be taxable under the head Profit and Gains of Business or Profession. ITR 4 needs to be filed. No minimum percentage of profit required to be declared.
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07 August 2014
client is receiving income from birla sun life insurance co. tds has been deducted in section 194d . so my query is where to show this income and client is small so doesnt keep any books of accounts therefore actual profit is unknown to him. how much profit i should show such that taxility is minimum
07 August 2014
income will be shown in ITR4! as income from services.
The books of accounts if your client satisfies conditions under 44AA shall have to be maintained.
With regards to the level of income, sorry friend cannot help you with the part of job where you need to apply your own mental faculties.
The books of accounts if your client satisfies conditions under 44AA shall have to be maintained.
With regards to the level of income, sorry friend cannot help you with the part of job where you need to apply your own mental faculties.
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