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Itr-4 filling query

ITR Filing 619 views 5 replies

Hi, for the AY 2013-14, the income is frm shop & LIC Com. income. I'm filling ITR-4,but in excel sheet i'm not getting the column where to write Com. income amt. so plz help me out

Hi, For 2009-10, I have income from salary and LIC commission. I understand that I should use ITR4 in this case to file my returns. I am using the excel utility given by the income tax dept for this. My questions- 1. Is filling NatureOfBusiness, PartA-BS, PartA-P & L, PartB-TI,PartB-TTI, Schedule BP, CYLA-BFLA and TDS-TCS sheets in the excel utility enough? 2. How should I go about filling the balance sheet and the P&L account sheets - or should I leave them blank? Hoping that all you learned people will help me with this! Regards, Ajay

Read more at: /forum/itr4-for-salary-lic-commission-41261.aspHiHI
Hi, For 2009-10, I have income from salary and LIC commission. I understand that I should use ITR4 in this case to file my returns. I am using the excel utility given by the income tax dept for this. My questions- 1. Is filling NatureOfBusiness, PartA-BS, PartA-P & L, PartB-TI,PartB-TTI, Schedule BP, CYLA-BFLA and TDS-TCS sheets in the excel utility enough? 2. How should I go about filling the balance sheet and the P&L account sheets - or should I leave them blank? Hoping that all you learned people will help me with this! Regards, Ajay

Read more at: /forum/itr4-for-salary-lic-commission-41261.asp
Replies (5)

hi,

Commission is also like a business income whcih you can club with other business income.

 

There is no need to show seperate lines for two incomes as both are from businesses. 

But on LIC com. there is a deduction of 33 1/3%, bt no such deduction is allowable under retail shop business income, so hw cn i club both

let me know is the commission income more than 60k?

no, Com. income is Rs.15130/-

I would suggest to club the LIC Commission with other business income and claim the 33.33 % ded of sec 57 as any expense under Other expenses (Part - PL - Row # 36).

 

As it is not a huge number, you can relax by doing so.

 

 


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