Hi friends,
One of my friend receives commission for acting as insurance agent and TDS deducted at source @ 10%, the commission income is only around Rs.55,000 and my friend does not have any other source of income, kindly suggest me which ITR form to be used?
I have read in 'The Chartered Accountant Student Journal' - July 2011 edition that CBDT has noticed in Notification 18/2011 that Form 'SAHAJ' (ITR-1) would be applicable for individuals, whose total income includes income chargeable under the head-
1. salaries or income in nature of family pension or
2. income from house property, where assessee does not own more than one house property and does not have brought forward loss under the head; or
3. income form other sources' except winnings from lottery or income from race horses
My query is considering the Insurance commission received by my friend as income from other souces, can i file Return of Income In Form ITR-1 (SAHAJ) for claiming refund of TDS deducted?
CAclubindia
