Dear Expertz,
My friend has Insurance commission income, earlier he used to file ITR-4S online, now it is not there in online.
pl advice, whcih ITR form he has to file?
Satya N Dharani (Finance Professional) (491 Points)
07 July 2018Dear Expertz,
My friend has Insurance commission income, earlier he used to file ITR-4S online, now it is not there in online.
pl advice, whcih ITR form he has to file?
CA Sunil Kumar
(Chartered Accountant)
(4514 Points)
Replied 07 July 2018
RAJA P M
("Do the Right Thing...!!!")
(127140 Points)
Replied 07 July 2018
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 07 July 2018
1. If your income lower than 250000 u may choose ITR 1 and file return under the head income from other source
2. Otherwise ITR 3 can be filed.By deducting expenses from business income and showing only profit as income.
RAJA P M
("Do the Right Thing...!!!")
(127140 Points)
Replied 07 July 2018
Satya N Dharani
(Finance Professional)
(491 Points)
Replied 09 July 2018
but, while filing ITR3 portal is showing
are u auditiond under 44AB
are you auditied under 92E
pl clarify for Insurance Agent/advisor having little bit amount na
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 09 July 2018
No need to to fill those areas.You can fill only gross receipts,expenses and show profit as income.
I repeat If your gross receipts lower than 250000 u may choose ITR 1 and file return under the head income from other source.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
