I have received ruppes 17 lakhs as commission by way of my work with bajaj finance. tds of rs 87000/- has been deducted. can i file return under presumptive scheme itr 4. or will this income be shown as income from other sources. kindly advice.
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Commission under section 194h
Replies (3)
Being income from commission, you cannot opt for presumptive assessment. You need to declare it as PGBP income under normal assessment, by filing ITR 3.
File ITR 3 and claim expenses against income.
Yes, prepare financial statement and claim relevant expenditure incurred in earning commission.
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