If an individual is having income from brokerage (as main and only income) more than 4 lakhs annually and TDS u/s 194H is also being deducted . so what is the treatment of brokerage income and also which ITR is to be filed for A.Y 2017-18.
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Taxability of brokerage income
Replies (5)
Show under PGBP & file ITR 3.
so P&l and balancesheet is also required to show it under PGBP / or filling ITR 3?
Yes P/L, Balance Sheet must be declare because your income is exceed Rs. 1,20,000/- as per section 44AA...
You may also file ITR 4 and declare your income at 8% or 6% to get rid of maintaining books
commission, broker, agent not eligible for presumptive...
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