Saving A/c Transaction
This query is : Resolved
vinod kumar pal
(Querist)
13 May 2017
Dear experts please tell me one of my clients is general commission agents and he received 26 lac in 2 saving account a.y 17- 18 & tds deduct approx 40 thousand
then can i ITR file 4 Sugam & show turnover in digital transaction
ITD have taken any action on this amount after filed return becoz this is saving account
CA R SEETHARAMAN
(Expert)
13 May 2017
Commission income can be received in savings ac no problem. Commission income can't be opted u/s 44AD hence you can't file ITR 4S(Now ITR 4). You have to file the return ITR 3 New form(old ITR 4)
vinod kumar pal
(Querist)
13 May 2017
ok thanks sir
15 May 2017
commission income cannot be shown u/s 44AD in view of section 44AD(6) which says that provisions of this section shall not apply to a person earning income by way of commission.
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