Tushar Thakar (student) (57 Points)
17 July 2019Hello,
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?
Manasi2 Jain
(97 Points)
Replied 17 July 2019
siddhesh
(si)
(198 Points)
Replied 17 July 2019
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.
Tushar Thakar
(student)
(57 Points)
Replied 17 July 2019
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 ?
CA Uday Kiran
(Chartered Accountant)
(653 Points)
Replied 17 July 2019
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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