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Query on income tax

ITR 520 views 1 replies

mohd irfan

acct.

82 Points Joined February 2012

Hi I am working for Avon Company as a Representative, avon is a direct selling company which deals in cosmetics products I got Upto 30% Discounton Sale at the time purchasing of stock/product from avon i sale them to my customers at the MRP or the price which is listed in brochure of Avon and I also work i.e Salary Income also.

My Income comes from Salary and from Avon too.

So My question is that which ITR i should file ITR1 or ITR 4S and if i Fill ITR 4s than under what head (i.e. Broker,Commission etc. should i show my income which comes from Avon product sale.

Please guide me, and provide some information regarding this issue.

Thanks

Replies (1)

Sagar Devani

Corporate and International Taxation

1174 Points Joined February 2011

U can use any of the forms. If u use ITR 1 show this income as income from other source. In case of ITR 4S, u can show this as income from business - Trading business. Since you buy the goods from avon and sell it.

Since, this is a direct selling company it is appropriate if you show this as your income from commission or other source.