Dear Members,
Greetings of the day,
i have a query regarding Income from Insurance Commission , one of our client receiving income as Insurance commision for which his tds has been deducted of Rs. 22485 For A.y. 2012-2013 . so i think his income tax return should be filled in ITR 4 as his income is from business and profession as well as his non taxable limits exceeds from Rs. 180000.
but my query is that:-
Can i maintain books of account under section 44AA for this income. i know this net profits exceeds Rs. 120000 so after claiming Exp.???
Or
simply i fill the coulmn no 51 in Return,where regular books of account are not maintained??
Thanks in Advance
Mansi Batra
CAclubindia
