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INSURANCE AGENT S COMMISSION IS SHOWING AUTOMATICALLY IN OTHER SOURCES INCOME TABLE. WHERE EXPENSES

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BISWAJIT MAIKAP

ADVOCATE

160 Points Posted on 02 November 2021

Sir/madam,

today i saw that , insurance agent commission is automatically showing in other sources table in itr3 (where bank interest income etc. shows).so there are no any option to less expenditures by debit account from head of the commission amount.

so then , i have filled the gross commission amount in profit and loss table under the commission column. but in 'BFLA' Tab showing total gross income in double amount. example-: if the gross commission amount is ₹5000 , then i filled in commission amount of profit and loss table ₹5000 . but in other sources tab automatically showing the gross commission amount ₹5000 also. so finally it is showing in BFLA Table ₹5000+₹5000. so my question is , can remove the amount of ₹5000 as automatically showing amount in other sources Income table?

if no , then how i claim expenses from the gross amount of commission income?

Replies (3)

Quick Summary

This discussion addresses an issue where insurance agent commission is automatically appearing in the 'Other Sources Income' table of ITR3, alongside items like bank interest. This prevents claiming expenses against the commission. The proposed solution is to manually remove the commission amount from the 'Other Sources' table and report the gross commission in the Profit & Loss table under the 'Commission' column, ensuring expenses can be claimed correctly.