Hi,
Person earning commission through collection of loan amount. Which ITR form is applicable.
How can his expenses included in filing.
4 Replies
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 29 June 2020
ITR 3 as this is a business income not eligible under section 44AD/44ADA..
Bhavin Shah
(Chartered Accountant)
(821 Points)
Replied 29 June 2020
Use ITR 3...Work out the profits (income - exp) and offer it for tax purpose
MALLIKA P
(Business)
(28 Points)
Replied 29 June 2020
Is there is any problem in filing in ITR 2, in other sources of income.
Bhavin Shah
(Chartered Accountant)
(821 Points)
Replied 29 June 2020
It should not be an issue..... In that case u can claim expenses as per section 57
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