24 October 2010
Hello my friend is insurance agent. His company deducted TDS on his income. What is the procedure for getting refund of TDS. If any form is applicable then suggest.
26 October 2010
Hello my friend is insurance agent. But he is not carrying such business in propitiatory form. His company deducted TDS on his income. and also given Form No. 16 A to my friend. What is the procedure for getting refund of TDS. If any form is applicable then suggest.
20 November 2010
Since your friend is an insuranc agent, he has earned insurance commission including new policy commission, renewal commission etc.,& the the company has deducted TDS & issued Form 16A..... correct.
He has to file the return of income in ITR 4 as it is treated as Business Income under Income Tax Act, 1961 The due date for filing the return of income for the F.Y.2009-10 is 31.07.2010 (Non tax audit) You can file Form 30 for claiming refund, but it is not complusary to file the same.
If the total commission does not exceed Rs60000/- straightaway 50% is treated as expesnses etc.,
CAclubindia
