Can Anybody tell me which Return Form is Used if Income is Generated U/s 194 H.....? Please help me so that i can file the return....
2 Replies
CA Anil Agarwal
(Practicing CA)
(67 Points)
Replied 30 July 2013
It depends upon your client. If he is a broker or commission agent and considers it his business the you can show it under PGBP and file ITR4. The client may also consider it as Other Source income but you may suggest him not to do so. In case no. of transaction are very low you can consider it Other Source Income and file ITR 1 or 2.
CA ABHISHEK
(JOB)
(82 Points)
Replied 30 July 2013
Agreed with CA Anil Agarwal, ITR 4 should be used if income is of regular nature.
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