Filing of ITR

 I get pension from state government and I get Insurance commission also. Which ITR I should file for FY 2019-20 ?       Please clarify .

Sanjay Khandekar

Replies (5)
Quick Summary
This discussion clarifies which Income Tax Return (ITR) form an individual receiving both a state government pension and insurance commission should file for FY 2019-20. The consensus is that ITR-3 is the appropriate form. Pension income is typically declared under the 'Salary' head, while insurance commission is considered business income and should be reported under the 'Profits and Gains from Business or Profession' (PGBP) head.

Itr 1
Itr 3 you will file as you get commission from insurance company
ITR 3 should be filed showing commission income under PGBP head

ITR 3 IS APPLICABLE IN THE FOLLOWING CASES:

1. INCOME FROM BUSINESS AND PROFESSION

2. INDIVIDUAL DIRECTOR IN A COMPANy

In this case the individual receives pension and insurance commission.

 

File ITR3 . insurance Commission falls under business income. Pension falls under Salary head.

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