Itr

UDAYKANTPATHAK (Querist) 08 November 2017 This query is : Resolved
SIR
Which ITR applicable for LIC Agent Commission received Below Rs, l lakh in F Y 2016-2017

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P. Venu (Expert) 09 November 2017
There are no special forms for LIC agents; it depends upon your total income and source of such earning.

Rajendra K Goyal (Expert) 09 November 2017
Form depend on earning from sources i.e. salary, profession, business, commission, long term, short term interest etc. and total income.

You can select form suitable to you from Income Tax site.

If total income is less than 1 lac no return need to be filed till any refund need to be claimed.

Dr J C Vashista (Expert) 10 November 2017
Such question paper should be set for IT students.

sanjeev kumar goel (Expert) 13 November 2017
Dear Uday Kant ji it depends upon you that how you are declaring your income . If you have only source of income from LIC commission and no other source of income is there then you can show whole of commission income as your income from other sources because its less than one lakh rupees and is not taxable or you can show it as business income. For business income you can use ITR Form 4 or 4S and for other source ITR Form 1

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