18 July 2011
I have a client who is working in Railway department and he also doing an insurance agent.Can i File IT both in ITR-4.any other problems for Filing of IT for him regarding Insurance commission.
18 July 2011
Insurance commission has to be considered under 'business income' on which section 44AD can be opted. Appropriate form is ITR-4S. If the employment terms permits, the assessee can do business,otherwise problems may arise from the employer's side.
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