Good Afternoon
My friends father used to do the business of a property dealer and receive the brokerage in the name of my friend. so now this will be taxable in my friend's hand(not a minor).
So which ITR form should I use
ITR 3 or ITR 4 as proceeds are approx. 5 Lacs.
Can I use ITR 4 u/s 44AD and declare his income
Section 44AD of the income Tax act 1961 is not applicable for Commission & Brokerage .
CAclubindia
