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Query Answer
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Respected Sir.

As my client is commission agent and his commission income for fy 2018 is 440000 which type return I file and how I get full refund of 22000

1. As par rule should I file ITR 1 other as full 440000 and only claim TDS of 12000

Or

2. I file ITR 3 and show expenses against commission income and claim full TDS of 22000

Please suggest which option is refer

Reply

Dear Sir,

If commission income from LIC is more than Rs. 1,20,000 in a financial year, the said income is treated as income from business and profession. Since your clients income from commission is more than Rs. 1,20,000, therefore it is taxable under the head income from business and profession and accordingly ITR-3 should be filed. 

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