income from others
SABARI (7 Points)
28 August 2019mentioned income from others in OS
Kapadia Pravin
(17264 Points)
Replied 28 August 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 11 September 2019
1. The very simple way to segregate whether a commission income falls under PGBP or IOS is based on its significance.
2. If you have spent most of your time and efforts to earn the commission income and it forms part of your major income then it will fall under PGBP.
3. If the commission income is earned sideways and not as a major source of income it can be shown under IOS.
4. Based on the facts and circumstances you can show your commission income.
5. If Rs. 4 lakhs forms part of major source of income then it should be shown under PGBP and for PGBP only ITR- 3 can be filed.
6. In the case of IOS ITR-2 is enough.
Please correct me if the above interpretation has an alternative view.
Kapadia Pravin
(17264 Points)
Replied 12 September 2019
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