Query regarding income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2012 please answer urgently..

An individual earning income (Approx Rs.99000) by way of Commission form LIC & this is the only source of his income. his is required to file ITR to get back his TDS. Please specify which return he is required to file with tax dept. In case the ans. is ITR 4 then is it a business income or income from a profession & whether attachment of P&L A/C & Balance sheet is required or not with the itr?

Please give advises..
thanks in advance to all experts

Amol S Joglekar

Amol S Joglekar (Expert)
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27 July 2012 refer to a very old circular of CBDT where it has categorically given the ad hoc deduction from first year commission and renewal commission. Now a days income tax department does not accept any attachments with the returns.

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2012 sir please specify which itr he is required to file with?

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