Ashnand Majhi (45 Points)
17 July 2019
sravan
(Officer Accounts in Godreg Agrovet Ltd)
(51 Points)
Replied 17 July 2019
Whether the employer has deducted any TDS then in 26AS it will reflect whether it is deducted under sec194J or sec192 based on that file return.
and in case no TDS made then file ITR1 as it is for individuals having income from salaries and other sources.
sravan
(Officer Accounts in Godreg Agrovet Ltd)
(51 Points)
Replied 17 July 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 18 July 2019
1. Categorizing commission income could be tricky as it could be segregated under professional income or income from other sources depending upon the type of commission income.
2. Since TDS was deducted for salary and as well as commission income, 26AS could be viewed to determine the nature of commission income. If the commssion was paid on account of your employment for any additional service or as a kind of incentive then it will be charged to tax under the head IOS. However, this is the most likely scenario as you are in employment in Maruti.
3. If you are engaged in the profession as such to earn commission on a regular basis for your services then it will be considered as professional income and accordingly it be charged to tax under PGBP.
4. In the first case, ITR-1 will be enough, however, in the second case, ITR-3.
5. But looking at the scenario it should be mostly ITR-1.
Please correct me if the above solution has an alternative view.
sravan
(Officer Accounts in Godreg Agrovet Ltd)
(51 Points)
Replied 18 July 2019
Ashnand Majhi
(45 Points)
Replied 18 July 2019
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