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Lic comission.. itr-1 or itr-4.
Dear Sir,
Person earning LIC commission only.. no other source.. which itr to be used.. last time he had filed ITR1.. but i think ITR4 should be file.. also there are 6 transaction in 26AS.. TDS deducted @ 10% but in last transaction TDS is deducted more than 30%(Amount Credited 5836 & TDS deducted 2076) ... y so.?? plz guide..
Replies (17)
U can file ur IT Return in ITR-4S or 4 also
U can file ITR-4...
go ahead with itr 1 and fill comm. income under other sources.... there is absolutely no prb..
Go for itr4.no prob at all.
U should file itr4 for commission agents. Pls follow instructions.
U should file ITR4. As commission agent can't use ITR 4 S
Yes ashiwini madam is correct
Go for ITR4 ,its better
You should file ITR 4 Bcoz commission earn in hands of assessee as a business income & assessee can't file ITR 4S
Yes. Pankaj gupta has given right answer. Income from commission is treated as business income and for that the assessee can file only itr4.
Thanks all.. For all ur response.. But plz also answer about 2nd question of excess tds deduction..
ITR 4 - No Account case. I have got my clients refund.
U should file ITR 4
u/s 44AD can not be used for brokerage commission so ITR 4S should not be filled, ITR 4 is only the one u should fill. commission income is taken as business income so ITR 1 is also not valid (as u should not take as income from other sources)
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