Itr

avneesh (Querist) 24 August 2012 This query is : Resolved
a person is earning income from isurance commission of Rs 25,00,000.

question-

1- is it profession income or business income

2- can he use itr4s and show 20% profit of 25,00,000

avneesh.bibhu@gmail.com

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Sadashiv Rupchand Gaikwad (Expert) 30 August 2012
It is not Profession but not use ITR4S. It should be used ITR4. Balance sheet to be tabulate, not presumptive Income.

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