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.
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 06 August 2010
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.
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