Lic commission agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2012
I WANT TO KNOW THAT A LIC AGENT
1. IS REQUIRED A TRADE LICENCE & PAY P TAX. 2. WHICH ITR IS REQUIRED TO FILL (ITR2 OR ITR4)
3. FULL COMMISSION ON LIC IS HIS TAXABLE INCOME OR HE CAN LESS THE INDIRECT EXPENSE LIKE SALARY,OFF MAINTENANCE ETC.
IF ANY ONE CAN GIVE ME THE IDEA.
AMIT KR GHOSH
1. IS REQUIRED A TRADE LICENCE & PAY P TAX. 2. WHICH ITR IS REQUIRED TO FILL (ITR2 OR ITR4)
3. FULL COMMISSION ON LIC IS HIS TAXABLE INCOME OR HE CAN LESS THE INDIRECT EXPENSE LIKE SALARY,OFF MAINTENANCE ETC.
IF ANY ONE CAN GIVE ME THE IDEA.
AMIT KR GHOSH
20 June 2012
1. He fill file ITR 4
2. He can claim all expenses incurred to earn the income.
2. He can claim all expenses incurred to earn the income.
20 June 2012
instaed of filing form 4...pls file form 4S by taking net profit higher than 8% of commission income..bcz in this case u need not maintain books of accounts and file balance sheet and p&l a/c..
Message likes :
1 times
20 June 2012
Dear CA Kalpesh, Section 44AD has been retrospectively amended wef from AY 11-12 to provide that provisions of Section 44AD are NOT applicable to agency or commission income.
Accordingly, in this case, Section 44AD is NOT applicable and ITR4S CANNOT be filed.
Accordingly, in this case, Section 44AD is NOT applicable and ITR4S CANNOT be filed.
Message likes :
1 times
20 June 2012
Yes right..form ITR 4..thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
