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Which ITR is applicable
if a person having income from salary and getting commission from insurance. Which ITR is applicable for filing it ?
Replies (11)
Quick Summary
Income from salary and from shares
@ lahejjat ITR 3
I think ITR 1 will you better
@ nandanji either ITR 2 or itr 3
Itr 3 should be filed for lahejjat
Lahejat tea
person deriving income from salary and commission
depending on the quantum.
insurance from commission how much?
you can disclose it in itr 1.
person deriving income from salary and commission
depending on the quantum.
insurance from commission how much?
you can disclose it in itr 1.
@ lahejjat
Go for ITR3. If insurance Commission amount is smaller reasonable then you may show under IFOS. In that case ITR1 you file
@ nandan
Go for ITR2
OR
If shares is trading activity then file ITR3
Go for ITR3. If insurance Commission amount is smaller reasonable then you may show under IFOS. In that case ITR1 you file
@ nandan
Go for ITR2
OR
If shares is trading activity then file ITR3
ITR 3 IS GENERALLY APPLICABLE IN THE FOLLOWING CASES:
INCOME FROM BUSINESS AS PROFESSION
PARTNER IN PARTNERSHIP FIRM
DIRECTOR IN A COMPANY..
SO SINCE THE QUERIST HAS NOT MENTIONED THAT HE IS NOT A DIRECTOR.
HE CANNOT FILE ITR3.
ITR 1 WILL BE OK .
BUT IF NOT ITR 2.
INCOME FROM BUSINESS AS PROFESSION
PARTNER IN PARTNERSHIP FIRM
DIRECTOR IN A COMPANY..
SO SINCE THE QUERIST HAS NOT MENTIONED THAT HE IS NOT A DIRECTOR.
HE CANNOT FILE ITR3.
ITR 1 WILL BE OK .
BUT IF NOT ITR 2.
When it comes to commission itr3 is mandatory
Please cite relevant sections or enactment.
Itr 3
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