We have an assessee who is a LIC agent and he is doing retail trading in electronic goods also (44AD).
So can we file his return in ITR 4S ?????
My second question is that should we give gross receipts in No account case ????
Should those G R include G R of both the business or only of retail trade???
If we file the return in normal ITR 4 then should we give balance sheet for agency business and fill no account case for trading???????
I m very much confussed.......please suggest
thanks.
LIC COMMISSION IS ALSO PGBP
TAKE A DEMO OF ITR 4S AND TRY TO FILL AFTER CONSOLIDATING BOTH THE TURNOVERS, COME BACK IF YOU FEEL PROB.
REM BOOKS OF ACCOUNTS IS MANDATORY AFTER 1.5 LACS OF PROFESSIONAL INCOME.
if you are showing commission income from LIC as income from other sources, use ITR 4S
if you are showing commission income from LIC as PGBP, use ITR 4
| Originally posted by : U S Sharma | ||
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LIC COMMISSION IS ALSO PGBP TAKE A DEMO OF ITR 4S AND TRY TO FILL AFTER CONSOLIDATING BOTH THE TURNOVERS, COME BACK IF YOU FEEL PROB. REM BOOKS OF ACCOUNTS IS MANDATORY AFTER 1.5 LACS OF PROFESSIONAL INCOME. |
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