Commission agent income
CA Surbhi Sharma (Chartered Accountant) (44 Points)
27 June 2019
Can the commission agent income be shown under the head Income from other source in ITR-4?
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 27 June 2019
If you are filing ITR 4 Under section 44AD of the Income Tax act 1961 , same is not applicable to commission agent please refer ( Section 44AD (6) (ii) )
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 27 June 2019
As per Income Tax, ITR 3 will be suitable for commission agent (Income is under Business & Profession). IT Department can declare ITR-4 as defective.
CA Surbhi Sharma
(Chartered Accountant)
(44 Points)
Replied 27 June 2019
what if they are life insurance agents getting commission income and show in ITR-4 Under incone frm other sources and not under 44AD
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 28 June 2019
| Originally posted by : Surbhi sharma | ||
 |
what if they are life insurance agents getting commission income and show in ITR-4 Under income from other sources and not under 44AD
ITR 4 Is only applicable to presumptive Taxation Section 44AD , 44ADA , 44AE under income Tax act 1961 |
 |
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