ITR4 for salary + LIC commission

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ajay

Manager

20 Points Posted on 30 July 2009

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

Replies (5)

CA Sumit Arora

20 Points Posted on 30 July 2009

Mr. Ajay in Balance Sheet u can just put cash balance and in profit and loss a/c just show ur gross receipts and expenses.

These are only for the persons who does not maintain regular books of accounts. There is option in ITR-4 in Balance sheet column who does not maintain regular book of accounts.

ajay

Manager

20 Points Posted on 30 July 2009

Mr. Sumit, Thanks! That was very helpful.

Prakash Kumar Singh

Artical Clearck

20 Points Posted on 18 February 2010

Can any one told me that An Assessee received Commission as LIC agent on polices procedure by him. Whether income is professional income or Business Income

Its urgent