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Its 4s can be used for commission income?
Assessee is having business income and filed ITR4S last year. This Yr along with business income assessee also received commission from pvt. co. for bringing sales orders tds is deducted u/s 194H Commission the same is reflected in 26AS. Business income are in cash and cash is deposited in bank.
My question is can include this commission income in Income from Business and file ITR4S or I have to show commission as income from other sources?
Replies (2)
If books are not maintained during the year for the relevant business, you may file ITR 4S for F.Y. 2014-15. Do not treat your commission income as business income rather show in in Income from Other Sources. For claiming TDS deducted u/s 194H, show TDS deducted details in 'TDS' sheet under '20 TDS2 (Other Than Salary - Form 16A' ) head.
Thank you Vikas for your Quick response.
Books are not maintained for business income and hence opting for ITR 4S.
As per your reply I will show Commission income as Income from other source and fill in TDS schedule for claiming TDS. But then how will i claim / Show for Expenses incurred to earn that commission Income as in ITR 4S there is no place to show such expenses.
Kindly advise.
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