No account case
Querist : Anonymous
In case of a LIC agent, whose total commission received in FY 2010-11 is 233000/-. Can he file his retrun as no a/c case, if yes, then under which section and which ITR form would be applicable.
Thanks.
Querist : Anonymous
Accordingly, an LIC agent CANNOT be covered u/s 44AD.
He will have to file ITR 4.
However, he does not need to maintain books of accounts because his income is below the specified limit.
Querist : Anonymous
The limit is Rs. 1,20,000 in any of the three financial years preceeding the current year.
Querist : Anonymous
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