Sir my friend received sales commission on sale of Herbalife products. please guide which itr to be file.
We have to show income from other source or commission received from business.. Please guide me....
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Quick Summary
This discussion addresses how to declare sales commission income, specifically from Herbalife products. If the commission is below £60,000, it can be declared under 'Income from Other Sources' using ITR 1 or 2. However, for amounts exceeding £60,000, such as the £131,000 mentioned, it should be declared under 'Profits and Gains from Business or Profession' (PGBP) in ITR 3. The user also seeks clarification on filing ITR 3 when commission is the sole income, with no other expenditures, assets, or liabilities.