Do i need to fill both itr1 and itr4

I am a salaried professional working in a software company.  I was also an LIC agent and i receive insurance commission as an income.

As i am working in a company I need to file ITR1 (income received under the head salary).

At the same time as I even receive insurance agent commission(after 10% TDS), I need to file ITR4.

Do I need to file both ITR1 and ITR4 returns? or shall i add both incomes and file as single ITR? If so which should I choose? Any help please...

Replies (4)

Sir,

You are eligible only ITR 4 online or offline. If you have any query in this regard plz forward the same.

 

Thank you Sir,

Shall i club both incomes in ITR4 and fill?

Will the tax slab remain the same?

Actually with the salary itself i fall into 20% slab and company is deducting TDS for that. If i club the insurance commission I have to pay more Tax as only 12.36% is deducted as TDS for comission recieved. Am I right? So I have to pay more tax on the insurance commission.

Dear Sir,

Your TDS Deduction on LIC @ 10%

I attached a chart for your understanding

Salary Income                                  100

Income from Business                      100 ( after deduction operating cost)

Income from other sources              100

Total Income                                    300

Deudction as per Law                      100

Balance Taxable Income                  200 Check the slab rate & calculate the tax

Hope you understand, if any query plz forward the same

thank you I got it  clearing now :)

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