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NO ACCOUNT CASE

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service
69 Points Posted on 31 August 2019
Dear sir,

Can a LIC agent take NO ACCOUNT CASE in ITR3 ?
His total income-712300/-
expenses-255700/-
cash in hand-155000/-
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On 31 August 2019 at 08:59 Report
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SEO Sai Gr. Hosp.
211604 Points Posted on 31 August 2019

No.

Must file P&L acc & BS details...

581 Reply
On 31 August 2019 at 10:15
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service
69 Points Posted on 31 August 2019
thanks sir
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On 31 August 2019 at 10:43
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17264 Points Posted on 31 August 2019
File ITR3 with BS and P&L including only those items which relates to your commission income.

There are slabs for deduction of expenses based on Commission on first premium , renewal premium etc. Check that and claim expenses açcordingly.
101 Reply
On 31 August 2019 at 11:06


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