Itr-4 filling query

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Student
1164 Points Joined November 2009

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
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On 29 July 2013 at 13:50 Report
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Assistant Manager @ EY
955 Points Joined November 2007

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. 

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On 29 July 2013 at 14:18
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Student
1164 Points Joined November 2009

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

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On 29 July 2013 at 14:31
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Assistant Manager @ EY
955 Points Joined November 2007

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

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On 29 July 2013 at 14:35
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Student
1164 Points Joined November 2009

no, Com. income is Rs.15130/-

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On 29 July 2013 at 14:38
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Assistant Manager @ EY
955 Points Joined November 2007

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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On 29 July 2013 at 14:58


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