Respected Members,
If an individual is having other sources, house property, capital gain and salary income and also LIC commsaion.
My query -(1)LIC common.(say Rs.15000) to be shown in business head income or other sources.(2) If we show in business income then in PL i have to show net income 10000 in ITR(after deduxting adhoc deduction 33.33%) and in capital dr. Balance 15000 & surplus in PL cr. Side 15000 in BS part of ITR.
(3) if We treat in other sources income then can we claim adhoc deduction and show only net income of 10000 in other sources head in ITR.
CAclubindia
