08 December 2010
sir some of LIC and Other Companies Commission agent below 1.20 lk income per annum, tds 10 on gross income 10.15%. so we are used business and profession income under ITR 4 some other Person guide under other income filed ITR 2. why are u filed ITR 4. so wich is correct.
a women assess income is 35012/- tds 3930 in bajaj alliaz insurence commissions u/s 194 h.
so i am filing irt 4 income is 29251/- declared and tds fully claim of 3930/- is correct process. balance sheet sundry debtors NIL sundry creditors NIL cash in hand 1623 stock NIL i am filling above figures balance sheet. is correct (last year one auditor is filing ITR 2) no balance sheet maintain.
09 December 2010
sir the assess is earning income total 35012/- and his expenses i.e., (travelling and telephone, sadar, other miscellaneous expenses is claimed income is 83.55% declared the income in as per profit and loss account. is right or wrong. (is my view only)
a lot of thanks sir a top 10 scored member immediate reply to my question.
09 December 2010
Ok. Got your point. You are absolutely correct. Also prepare a balance sheet and keep a printed copy for your reference. The figures of balance sheet as suggested by you above is correct. Go ahead.
CAclubindia
