Itr 4 for sales commission agent

ITR Filing 799 views 1 replies

For a sales commission agent of beauty products who gets a commission of 5%, last years total commission was 75000. No accounts maintained- the nature of business is that after the sales has been made between the beauty products company and salon, and when the salon makes the payment to the company, I am paid a commission of 5% of the total payment made by the salon. That commission is paid to m after deduction of TDS. My Questions are-

1) I will be using ITR 4 for filing returns- correct?

2) Gross receipts that I will file will be 75000 and not 75000*20. Is that correct?

3) No sundry debtors, creditors, or stock accumulated - as that is maintained by salon

4) Can I can file an expense of Rs 5000- for the year which is my travel and mobile phone expense?

 

Thanks in advance for your advice and answers.

 

Replies (1)

Dear Ravi

1) ITR 4 is correct.

2)Gross Rece.75000/- also o.k.( But i could not understand 75000*20 what is this pl.clarify )

3)No Debtors & Creditors This is for No Account case.

You just fill No account case in ITR 4 Gross Rece.- Expences incurred = Net Rece.

you are not elegible for tax cuz.your income is below Tax level.

If any doubt explain simply.

 


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