TREATMENT OF LIC COMMISSION IN ITR.
This query is : Resolved
22 October 2021
LAST YEAR I FILED MY RETURN SHOWING BUSINESS INCOME UNDER PRESUMPTIVE TAXATION SCHEME, IN CURRENT YEAR I HAVE LIC COMMISSION INCOME ALSO, HOW SHOULD I DISCLOSE IT, IN MY RETURN.
UNDER BUSINESS HEAD OR OTHR INCOME HEAD??
KINDLY ASSIST
UNDER BUSINESS HEAD OR OTHR INCOME HEAD??
KINDLY ASSIST
22 October 2021
If it is your second business, file ITR 3 with books of accounts for both the businesses.
But if the commission amount is in small amount, you may declare it under IFOS, and file ITR as earlier.
But if the commission amount is in small amount, you may declare it under IFOS, and file ITR as earlier.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- TDS Return Statement Status
- Capital gain on commercial property and investment in residential property
- RCM and same line
- Appointment of Auditor By Form ADT-1
- Rent agreement of House of deceased person
- Closer of business and itc of capital goods
- Import of Capital Machine
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
