Lic commission

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chinu

chinu (Querist)
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17 March 2014 1,00,000 lic tds. deducted n gross recipts is 9,50,000 that how to tax calculated n refund

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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17 March 2014 Prepare profit and loss account and balancesheet of the assessee and arrive Net profit from LIC agent Business. from such net profit compute your total income and tax liability as per the provisions of the Income tax act,1961 and file Income tax return in Form no:4 and claim refund of TDS after adjustment of your tax liability if any.

If you are new to filling this and you don't know about Income tax then my suggestion is approach any Income tax practitioner or Chartered accountant, he will help you and clarifies your doubts etc...

Because of for some issue personal presence or communication is most perfect and correct. So approach any ITP or CA nearest to you and best in practice.

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