Devendra (Chartered Accountant) (4775 Points)
20 March 2011
I will be filing ITR-4 for my client in June 11 (for A.Y 11-12)whose source of income is only Insurance Commission, can i show only a profit and loss a/c in his case?
Please guide..
Thank You,
Regards,
Devendra
HASIQ ISMAIL
(PURSUING CA FINAL )
(110 Points)
Replied 21 March 2011
Dear Devendra,
Both option is there U can show as Income from other sources and claim expenses u/s 57 if it inrelated to Insurance or As businss income any expenses inrelated to business can claim as expenses.
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