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Which itr for commision sales

neha (Others) (386 Points)

20 July 2022

if a person earned small amount less than 10k as an affiliate, rest all income is from fds , which itr should they file?

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160396 Points)
Replied 20 July 2022

File ITR 1, and declare the commission income under Income from Other Sources.

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CA Rashmi Gandhi (Chartered Accountant) (86275 Points)
Replied 20 July 2022

File ITR -1 showing commission income under othe sources

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neha (Others) (386 Points)
Replied 25 July 2022

Originally posted by : Dhirajlal Rambhia
	File ITR 1, and declare the commission income under Income from Other Sources.

plz can u guide on this too when they say total income should be above 50 lacs to use itr 2 , is it the gross income without deductions or total taxable income after deductions that should be above 50 lakhs?

Read more at: https://www.caclubindia.com/forum/total-taxable-income-or-gross-income-above-50-for-itr2--591709.asp

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160396 Points)
Replied 25 July 2022

Total Income is defined under Section 2(45) with the scope defined by Section 5 of the Income Tax Act, 1961

If you are an Indian resident in the previous year, any income received, accrued or deemed to be received by you will be accounted for .....
Total Income is arrived by deducting all eligible deductions from “Gross Total Income”

Section 80B(5) of the IT Act defines Gross Total Income

Includes income received or receivable by you in the previous year adjusted for clubbing and carry-forward amounts from previous years
Deduct the non-taxable parts of your income from this amount to estimate ‘Gross Total Income’

In short, for income tax purpose Total income is after deducting all the eligible deductions as defined in chapter VI-A, from the gross total income.

neha (Others) (386 Points)
Replied 25 July 2022

Originally posted by : Dhirajlal Rambhia
	Total Income is defined under Section 2(45) with the scope defined by Section 5 of the Income Tax Act, 1961 If you are an Indian resident in the previous year, any income received, accrued or deemed to be received by you will be accounted for ..... Total Income is arrived by deducting all eligible deductions from “Gross Total Income” Section 80B(5) of the IT Act defines Gross Total Income Includes income received or receivable by you in the previous year adjusted for clubbing and carry-forward amounts from previous years Deduct the non-taxable parts of your income from this amount to estimate ‘Gross Total Income’ In short, for income tax purpose Total income is after deducting all the eligible deductions as defined in chapter VI-A, from the gross total income.