Dear Sir, I am a housewife doing part time LIC/Mutual Fund Business. I have the following income this year 1. From LIC Commission: 1,23,881 2. From Mutual Funds(Trail Brokerage): 18,774 3. I also have Interest Income from FD 85,170 4. Exempt Income (Dividends on Shares) (21,025) 5. Qualifying Rebate u/s 80 C 22,533 I dont keep accounts and propose to claim expenses of 20% on my business income of 1,42,655 which comes to 28,531. Can I submit my return in ITR 4S (Sugam)to claim a refund of 12,488 TDS made by LIC/MF
1 Answers
As you have income from business/profession, you should maintain profit/loss accounts. For income tax return, you can file ITR4S or ITR4 in order to get refund.
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