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Which itr form is applicable

ITR 255 views 5 replies

Hello,

My wife got a commission from a Financial Institution for providing a client who required a loan.

Also, my wife has an interest income from FD.

 

For the above two types of Income which ITR should I go with for her (AY 2019-20)?

Is ITR3 applicable to her?

Replies (5)
ITR1 if such commission income is not a part of her business
If it's business then ITR3
ITR2 would be sufficient for these incomes

Dear Sir,

This Is a Commision Business and Thefore ITR -3 is applicable.

as Commision Agent.

and Fixed deposit  income should be shown in Income from Other Source.

If My Contention is wrong please clerify Me.

She is a housewife and not a business woman. But she luckily got a client and earned a commission.

 her total income (including bank interest income) does not exceed 1.25 lac.

So in that case ITR 1 or ITR 2 ?

It is irrespective whether the person business woman or not, if you receive any commission from Banking company and TDS gets deducted on it, this will become Business Income, You need to file ITR 3.

The fact that your wife should have signed an agreement for connector/DSA/BSA with the bank creates a business obligation.


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