anand k (pesuing pcc) (208 Points)
30 June 2009if a person gets commission on purchase and sale of residential flats....
which itr is applicable to him?
he dont ave any other income and infact he dont buy any of the flats but he act as a broker and gets commission on purchase and sale of flats...
please reply me soon
thanking you...
Satish
(CA Final Student)
(479 Points)
Replied 30 June 2009
The income would be chargeable under the head 'Profits & gains of Business or profession'. The nature of income is commission received by a real estate agent.
Satish
(CA Final Student)
(479 Points)
Replied 30 June 2009
ITR 4 is applicable in case the person is individual or HUF
Riyaz Khan
(CA CS (Exec) MBA (Fin) Asst. General Manager-SEBI Internal Auditor-British Certifications Inc.)
(1315 Points)
Replied 30 June 2009
Yes, ITR-4 is Applicable in your case....
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 30 June 2009
the said income is to be chargeable under the head PGBP
so here ITR4 is applicable.
Dimple S.Bhanushali
(practice)
(54 Points)
Replied 30 June 2009
itr 4 will be applicable in this case
CAclubindia
