Which itr i should file for insurance commission

This query is : Resolved 

04 March 2014 Dear Sir,

My Wife Only Earns As Income From Insurance Commissiom she is working as independent agent at edelweiss tokio life insurance

Sir Please guide me which ITR I Should Filed for AY 13-14

Just Going across your sites i got to know filing under ITR4 but my friend has suggest me to file under ITR2 as she is having income from total insurnace commission RS 29000/- TDS deducted 10% i.e refund would be 2900/-

Please revert at earliest as i have already filed my previous return under wrong ITR

Twinkle
9987112347

04 March 2014 Insurance commission is business income. Accordingly you have to file ITR4.

04 March 2014 DEAR SIR
IT IS COMPULSORY TO FILL DETAILS SUCH AS P&L
BALANCE SHEET

SHE HAVE VERY SMALL BUSINESS

ALL THE DETAILS REQURIED IN ITR4 IS IT COMPULSORY TO FILL ALL THE DETAILS


04 March 2014 SIR
CAN RETURN NOW BE FILED AS I HAVE ALREADY FILED UNDER ITR2 AS PER MY FRIENDS SUGGESTIONS

04 March 2014 1. Select option "Not maintained books of accounts".

In that case you DO NOT have to fill P&L and Balance Sheet.

2. If you filed the return on or before the due date of filing the return, then you can file a revised return.

04 March 2014 SIR
IT IS NECESSARY TO FILL ALL IMCOME EXPENSES DETAILS

04 March 2014 No it is NOT necessary to fill all income & expense details.

04 March 2014 In itr4 go to p&l sheet serial no. 51 no accounts maintained
.
And there u just have provide net figures of income and expence if any...first see itr4 p&l serial no.52 and then ask questions if u have any


04 March 2014 sir
in sec 51 of p&l there is mention gross receipts, gross profit and expenses

what should i write in that column

04 March 2014 bhardwaj sir

where is option not maintain books of accounts

please let me know

we have write that or we have to select form drop down list

04 March 2014 Gross receipts will be the total commission received which is Rs. 29,000.

Gross profit means commission less expenses, if any.

Enter the expenses incurred in the expenses column.

04 March 2014 Select it from drop down list.


04 March 2014

BHARDWAJ SIR
I CANNOT SEE ANY DROP DOWN LIST NEAR SEC51 OF P&L

04 March 2014 BHARDWAJ SIR
I CANNOT SEE ANY DROP DOWN LIST IN SEC 51 OF P&L OF ITR4

04 March 2014 Twinkle,

you need to select the same on "Part A - General" Sheet. Refer Row 38 "Are you liable to maintain accounts as per section 44AA? There you select "No" in the drop down
"


04 March 2014 Twinkle,

you need to select the same on "Part A - General" Sheet. Refer Row 38 "Are you liable to maintain accounts as per section 44AA? There you select "No" in the drop down
"

04 March 2014 Sir

Error Comes while filing ITR4
LiableSec44ABflg In Sheet Part A General is Compulsory

Please guide me

04 March 2014 Sir,

Try to upload return but error comes

Invalid Acknowledgement Number. Please retry.


04 March 2014 sir

Commission Recd From Insurance

on 1-7-2013 first time i upload return under ITR1 then from CPC BANGALORE i recd mail that they are not in position to process my refund contact ITO Mumbai

On 1-3-14
As per advice from friend who is also doing CA he suggested me to file under ITR2 as commission recd can be treated as income from other sources then i filed revised return, I have not send return to CPC bangalore it is only uploaded

On 4-3-14
As per guidelines today i was again filing revised return under ITR4 then this error comes across to me

HELP ME WHT TO DO NOW

TWINKLE
9987112347


04 March 2014 you need to select No in Row 39 in sheet "Part A - General"

04 March 2014 Fill ITR-4. Select revised return. Upload the return. Print ITR V and send it to CPC Bangalore.



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