Please Guide..

If the amount of commission is small ,then u can show in u/s57 & claim expenses.

but the amount is bigger then better to show as business income & claim deduction of expenses.

Commission earned is around Rs. 3 Lakhs.

then show it as business income & claim resonable deduction  on that. eg. 25% of commission earned.

bcoz many times agents give rebate to their client. then also claim travelling & printing & staionary expanses also. 

also here u need not to give his b/s & p&l a/c.

so just write it as gross receipts in ITR 4 & less expenses from it.

there is no need to give details of all expenses in ITR.

Can I show only a Profit and Loss Account?

NO NEED  TO SHOW BETTER TO SHOW IN ONLY GROSS RECEIPTS & GROSS EXPENSES.

IF ALL EXPENSES VOUCHER IS IN PROPER RECORD  &  YOU  HAVE  ALL INFORMATION OF ALL ASSETS & EXPENSES THEN YOU CAN PREPARE B/A & P/L A/C OTHER WISE NO NEED.