HELLO FRIENDS, CAN ANYBODY TELL ME IF THE PERSON HAS COMMISION INCOME FROM SALE OF VEHICLES AND SALARY INCOME ALSO WHICH ITR HE FILL WHETHER ITR 1 OR 4. PLS. HELP ME. I AM IN GREAT NEED.
HELLO FRIENDS, CAN ANYBODY TELL ME IF THE PERSON HAS COMMISION INCOME FROM SALE OF VEHICLES AND SALARY INCOME ALSO WHICH ITR HE FILL WHETHER ITR 1 OR 4. PLS. HELP ME. I AM IN GREAT NEED.
Dear Raj,
If earning commission on sale of vehicles is the assessee's business then it will be chargeable under the head "Profits & Gains from business or profession" and you will use ITR 4. Otherwise it will be chargeable under the head "Income From Other Sources" and you will use ITR 2
Regards,
Fatema.
CAclubindia
