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Lic comission.. itr-1 or itr-4.

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Article Trainee.
613 Points Posted on 23 August 2014
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..
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On 23 August 2014 at 20:48 Report
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ADVOCATE & TAX CONSULTANTS
32 Points Posted on 23 August 2014
U can file ur IT Return in ITR-4S or 4 also
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On 23 August 2014 at 21:52
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M.Com
50 Points Posted on 23 August 2014
U can file ITR-4...
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On 23 August 2014 at 23:51
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Student as well as Self-employed
3710 Points Posted on 24 August 2014
go ahead with itr 1 and fill comm. income under other sources.... there is absolutely no prb..
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On 24 August 2014 at 10:00
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Audit Assistant
58 Points Posted on 24 August 2014
Go for itr4.no prob at all.
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On 24 August 2014 at 17:43
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PARTNER
37 Points Posted on 24 August 2014
U should file itr4 for commission agents. Pls follow instructions.
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On 24 August 2014 at 17:46
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Chartered Accountant
272 Points Posted on 24 August 2014
U should file ITR4. As commission agent can't use ITR 4 S
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On 24 August 2014 at 18:04
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PRACTICE
54 Points Posted on 24 August 2014
Yes ashiwini madam is correct
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On 24 August 2014 at 18:14
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Student CA Final
27 Points Posted on 24 August 2014
Go for ITR4 ,its better
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On 24 August 2014 at 18:21
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ANALYST
21 Points Posted on 24 August 2014
You should file ITR 4 Bcoz commission earn in hands of assessee as a business income & assessee can't file ITR 4S
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On 24 August 2014 at 19:18
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ARTICLE CLERK
23 Points Posted on 24 August 2014
Yes. Pankaj gupta has given right answer. Income from commission is treated as business income and for that the assessee can file only itr4.
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On 24 August 2014 at 20:20
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Article Trainee.
613 Points Posted on 24 August 2014
Thanks all.. For all ur response.. But plz also answer about 2nd question of excess tds deduction..
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On 24 August 2014 at 20:31
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Professional
74 Points Posted on 24 August 2014

ITR 4 - No Account case. I have got my clients refund.

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On 24 August 2014 at 20:42
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practice
26 Points Posted on 25 August 2014
U should file ITR 4
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On 25 August 2014 at 07:30
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Staff
33 Points Posted on 25 August 2014

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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On 25 August 2014 at 10:32


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