Income tax E filing

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  1. Dear Sir/Madam,
    Which ITR should be used in case of presumptive income as well as commission income.Last year only Presumptive income was there(TDS deducted u/s 194C) and IT was filed in ITR 4S ,but this year commission income as well as presumptive income is there. TDS deducted u/s 194H as well as 194C. Presumptive income may be around Rs.6 lacs and commission income may be around Rs.2 lacs
    Pls clarify.
  2. ZED

    ZED Well-Known Member

    Kindly use ITR-4
    Do not declare the presumptive income business's profit less than 8% of the turnover of that business.
    You may select no account case.
  3. How to disclose presumptive income in itr 4?
    Shall I use itr 4s and disclose commission under other sources
  4. ZED

    ZED Well-Known Member

    That is one option but I avoided discussing that. Its a matter of personal opinion. Declaring that under income from other sources might not be wrong at this level but there is a reason why I asked for ITR-4. In some judgements it has been held that commission income is income from business (Each case has to be seen in respect of applicable facts and circumstances) .
    If the amount increase in future then definitely ITR-4 would be required and at that time you will be treating it as business.
    If we file ITR-4 now, then there will be consistency in our policy.

    I leave the decision to you, theres nothing wrong in either way.
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