Poonawalla fincorps
Poonawalla fincorps

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2013 My commission/brokerage incomes are Rs. 35,94,500. Is it require audit or not?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 October 2013 audit not required. However, books or accounts need to be maintained as per 44AA.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2013 Which ITR I have to e-file, If it is not require audit. ITR4 or ITR4s?
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Ganeshbabu K

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Ganeshbabu K (Expert)
27 October 2013 No tax audit required.
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however tax audit 44AB required if turnover exceeds 1 crore

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AS COMMISSION INCOME IS TAXABLE UNDER BUSINESS INCOME
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ITR4 WILL BE APPLICABLE
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 October 2013 you need to file ITR4. ITR4S is for presumptive income. Since you are earning commission income, it is not applicable to you.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
27 October 2013 ITR4S not applicable for you..
ITR4 is right choice...

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