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Regarding ITR filing

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Mahesh Suryavanshi

57 Points Posted on 11 February 2020

agar koi person ek party se paise lekar dusri party ko paise deta h or usme se commission leta h ..

To kya uski total transaction amount ko ITR me show karna h ya only commission amount ko show karna h..???

or agar wo ye continue karna chahta h use business registration kis type se karna hoga...

Replies (3)

Quick Summary

This discussion clarifies how to report commission income when acting as an intermediary. You should declare only the commission earned in your Income Tax Return (ITR), not the total transaction amount. If your annual commission income exceeds 20 lakh rupees (or 10 lakh in some states), you'll need to register for GST. Using a savings account for these transactions is acceptable, and no specific business registration is required unless your commission income crosses the GST threshold.

Dipesh Jha

PRACTICE

472 Points Posted on 11 February 2020

Only commission is required to show in ITR and If ur commison excceds 20 Lac then u nees to take Registration under GST(10 Lac in some state)

Mahesh Suryavanshi

57 Points Posted on 11 February 2020

Me sabhi transactions apne saving account me karta hu

usse koi probem to ni h na???

or mene koi bhi business registration ni kiya. iske liye kon sa registration karna padega.

commission agent k liye???

Dipesh Jha

PRACTICE

472 Points Posted on 12 February 2020

Koi problm nhi hai savings account se kare ya current account se

koi v registration lene ka jarurat nhi hai agr apka commsion ka income 20 lac se niche hai 1 year me to