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Itr for general insurance agent
Also he is not under the provisions of professional.
Respected team,
My spouse is now a general insurance agent.
I.T.R.-1 was used till now.
Has T.D. interest and Rental Income also.
Requested to suggest which ITR to be used for getting expenses incurred in procuring the general insurance premium.
Thanks.
Respected team,
My spouse is now a general insurance agent.
I.T.R.-1 was used till now.
Has T.D. interest and Rental Income also.
Requested to suggest which ITR to be used for getting expenses incurred in procuring the general insurance premium.
Thanks.
Your friend, as a general insurance agent receiving commission income, may need to file Income Tax Return (ITR) Form ITR-3. He should report his commission income as business income and provide details of his business activities. Whether he needs to show 50% net profit of gross receipts depends on the eligibility and choice of the presumptive taxation scheme under Section 44AD.
To learn more about ITR 3 click here
For more detailed information, visit Swipe Blog.
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