194 h commission or brokerage

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ramanamma (Querist)
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29 June 2013 Hi friends

One of my relative have only Commission income there is no other income & Deduction

Then which ITR form i need to fill for the AY 2013-14

Is it possible to Deduct expenditure incurred on that commission income.

Please Suggest me.

CA Kapil Verma

CA Kapil Verma (Expert)
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29 June 2013 yes, please Fill ITR-4 and show as commission agent business. and mention expenditure in P&L.

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ramanamma

ramanamma (Querist)
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29 June 2013 Thank You Kapil Verma

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ramanamma

ramanamma (Querist)
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29 June 2013 One more Doubt is it Required to Maintain books of accounts compulsory ??

Ganeshbabu K

Ganeshbabu K (Expert)
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29 June 2013 Yes..Books of accounts need to maintained if income from agency business or commission business is more than 1,20,000 as per section 44AA.

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