IT RETURN FORM 2009-10

This query is : Resolved

praful (Querist)
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19 June 2009 DEAR ALL,

MY FRIENDS HAVE A INSURANCE AGENT & ALSO DOING A JOB, BUT HIS INCOME IN NOT MORE THAN INCOME TAX SLABE,SO WHAT TYPE OF RETURN FORM HE HAVE TO SUMBIT IN IT RETURN.

CA Rohin Arora

CA Rohin Arora (Expert)
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19 June 2009 see, since you are an insurance agent...that means u are getting commision from the insurance company which is taxable as business income.thus u need to file ur return in ITR-4.and if u are doing some job also,it will be incorporated in it only,but i give you one option. if u dont want much hassels, just file ITR-2 and show ur commision in other sources.

any doubts just write to me.

Ratan Sharma

Ratan Sharma (Expert)
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19 June 2009 Hi,
If income is not more than the basic exemption limit then there is no need to file IT return. If income is more then basic limit, file ITR-2.

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