one of my friend is earning salary income of 240000 PA and he earned a commission of 40,000 from LIC (no bifurcation available). Now please tell me which ITR he should file? what is the treatment for commission income?
Menu
Lic agents income calculation
Replies (3)
file ITR 3
Thank you. Plz let me know that entire 40,000 is taxable? or 33.1/3% should be exempted from 40,000?
you can deduct expenses from 40000
Recent Topics :
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
Related Topics :
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
