Income tax return filing

This query is : Resolved

SIDDHARTH MAHESHKUMAR SHAH (Querist)
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28 June 2013 I AM DOING IPCC ALONGWITH ARTICLESHIP WITH CA FIRM. I ALSO HAVE AN INSURANCE AGENCY IN MY NAME. IN THIS REGARDS I HAVE TWO QUERIES:

1. I CAN CONTINUE MY INSURANCE AGENCY ONCE I WOULD CLEAR CA FINAL.

2. I CAN FILE MY INCOME TAX RETURNS SHOWING THE COMMISSION EARNED FROM INSURANCE PREMIUM ALONGWITH THE STIPEND RECEIVED DURING MY ARTICLESHIP FROM CA FIRM.

Guest

Guest (Expert)

29 June 2013 I think a ca article in not allowed to engage himself in any business or profession during articleship.

You are free to do anything after completing your articleship.

In case of income tax return,, In such case there is no distinction of legal or illegal income, hence income tax makes assessment of all types of incomes.
You can show stipend under salary head and commission under Business or profession head.

But make sure you are not violating the provisions of CA ACT.