Itr form for lic agent

ITR 1148 views 16 replies
Commission should file under ITR 4
Replies (16)
Commission should file under ITR 4

Hello , ITR 1 can't be used because insurance commission is business income.. 


YOU MUST FILL ITR 4.....

If the commission earned is less than Rs 60,000, the deduction on the first year’s commission is 50% of the commission. In case of renewal commission the deduction available is 15%. However, the maximum deduction allowed shall be limited to Rs 20,000. 
 


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