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Income of commission agent is taxable under which head
If in last A.Y.income from commission is taxable under other sources then shall I file ITR3 in current A.Y.? Income is more than 2.5lacs.
Replies (3)
it will be shown as prof. income with Bs& P& L A/c in itr 3 However as ur income from Com. is up to 2.5 lakh u can show it in No Account Case Col in Bs & p& l a/c by filling all 4-5 Colums of Not u/ OS pl
sir it is more than 2.5 lacs. can we show under income from other sources?
Mr. Goyal is referring to maintenance of books of accounts in case the turnover (i.e commission income) exceeds Rs. 2.5L. Head of Income won't change based on quantum of amount.
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