Itr 4

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2015 I am LIC agent and my commission income in FY 2014-15 was Rs. 191074/- ,tax was deducted as Rs.19107. Now , I am filling ITR4 and want to know how much expense I can show.

Please revert.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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24 August 2015 your income less than taxable limit Rs.2.50 Lakhs , you can declare entire commission as your income. You will get full refund.

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2015 Thank you for the revert Sir. I have salary income also which is more than 5 Lakh.Thats why I just want to know how to calculate expense for LIC commission.

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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28 August 2015 You can Claim upto 50% Expenses Balance declare Income , this is just my suggestion,there is no Criteria to declare Commissiom Income