Income from lic commission as an agent
CS HIMANI MITTAL (COMPANY SECRETARY ) (31 Points)
22 December 2015CS HIMANI MITTAL (COMPANY SECRETARY ) (31 Points)
22 December 2015
CS HIMANI MITTAL
(COMPANY SECRETARY )
(31 Points)
Replied 22 December 2015
Thanks,
In ITR-4 it is necessary to prepare P/L A/c. or shows that amount as under sub head OTHER INCOME
( Commission) ...
ashish
(article)
(151 Points)
Replied 22 December 2015
sonu champ
(delhi)
(24 Points)
Replied 22 December 2015
CS HIMANI MITTAL
(COMPANY SECRETARY )
(31 Points)
Replied 23 December 2015
Thanks to all.
I have no income from Salary or other Businees. only comission is earned from LIC.
so how to treat this Income ( MAIN INCOME) OR ( OTHER iNCOME SHOWS AS cOMMISION )
sreenivas
(student)
(46 Points)
Replied 23 December 2015
Rohit Aggarwal
(ACA Bcom (H) MBA MCom)
(470 Points)
Replied 23 December 2015
In case you have no other income apart from the "Commission" Income then you shall file ITR4 for claiming the refund of TDS.
Thanks.
CA SHAH DILEEPKUMAR
(PARTNER)
(144 Points)
Replied 27 December 2015
It is ITR-4 which is required to be filed by you as you have business income by
way of LIC Commission. You may claim expenses incurred by you for earning such income.
You are required to prepare your profit & loss account ( income & expenditure a/c.) and
balance sheet ( statement of affairs ) as of year end date.
Refund can be claimed by filing return of income in any ITR Form but you must be caution while
selecting ITR Form since it must be according to your source/nature of income.
CA SHAH DILEEPKUMAR
(PARTNER)
(144 Points)
Replied 27 December 2015
It is ITR-4 which is required to be filed by you as you have business income by
way of LIC Commission. You may claim expenses incurred by you for earning such income.
You are required to prepare your profit & loss account ( income & expenditure a/c.) and
balance sheet ( statement of affairs ) as of year end date.
Refund can be claimed by filing return of income in any ITR Form but you must be caution while
selecting ITR Form since it must be according to your source/nature of income.
OM PRAKASH
(Manager- Finance)
(27 Points)
Replied 07 August 2018
Hi, I have got income from Salary (As main source) by working full time in a company. Apart from this I have some very small amount of income from commission as LIC financial advisor (Part time). and also income from Fixed Deposit.
Please suggest which form would be the best. I have been filling ITR 4 and last Year ITR 3. If I have to fill ITR3, then please suggest- how do I take advantage of house loan interest claim benefit under section 24 under ITR 3 Form. I was unable to locate it.
Looking forward for good suggestions.
Regards
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