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Which itr should i use for my insurance commission income?
You need to file ITR-4.
Prepare p&l a/c, show commission as income and corrosponding exps to earn the commission and also prepare b/s and File ITR-4.
Sandeep, ITR 4 is applicable for LIC agent .
For LIC commission u need to file ITR 4
As LIC Commision is Professional Income
Only ITR 4 is valid
Yr LIC Commision is Rs. 135000/- Deduct Expenses related to this income.
Final Amount Below Rs.120000/- No Accounts required fill ITR 4, NO Account Case
If Final Amount above Rs. 120000/- then prepare Balance Sheet and fill ITR 4
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