Its 4s can be used for commission income?
Vaibhav Kotak (Senior Executive in Audit & Taxation) (37 Points)
28 August 2015Vaibhav Kotak (Senior Executive in Audit & Taxation) (37 Points)
28 August 2015
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 28 August 2015
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.
Vaibhav Kotak
(Senior Executive in Audit & Taxation)
(37 Points)
Replied 28 August 2015
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.