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.
Posted Date: Jun 19, 2018