Ranojit Dutta (Student) (25 Points)
09 July 2016I am a lic agent and my sole income source is insurance commission worth Rs.135000 (approx).LIC has deducted Rs.16000(approx) from my commission as TDS. To claim refund What ITR should I use for AY 2016-17? Please help me its urgent.
Ankit Patel
(Consultant)
(186 Points)
Replied 09 July 2016
File ITR - 1 for commission income under the head Other Sources
Dinesh Mertiya
(PROFESSIONAL)
(761 Points)
Replied 09 July 2016
if your income source is commission from LIC
i think you should file ITR-4
Dikshit Kapoor
(Article Assistant)
(51 Points)
Replied 09 July 2016
ITR-1 since the income is taxable under IOS
Shibu Panakkal
(Co-Founder Business Advisor TAXZONEindia)
(37 Points)
Replied 09 July 2016
Use ITR 4 for Commission Agents (LIC)
Thirumalai Kumar
(Practicing Cost Accountant)
(213 Points)
Replied 10 July 2016
Shivprasad Lohiya
(123)
(30 Points)
Replied 10 July 2016
If only commission income is the source of income then should go for ITR 4 and if it is additional income to other business then file ITR 1.
Shivprasad Lohiya
(123)
(30 Points)
Replied 10 July 2016
If only commission income is the source of income then should go for ITR 4 and if it is additional income to other business then file ITR.
ISHWARLAL JADHAV
(Advocate)
(26 Points)
Replied 10 July 2016
Itr 4 lic comm covered under business .
Ajith T S
(CA )
(431 Points)
Replied 10 July 2016
File ITR-4 (For Individuals & HUFs having income from a proprietory business or profession). Select Proprietory business - 303 (item code in ITR).
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