Clarification needed on income from insurance advisory business.

Shrikant Vijay Rane 1
Viewed 961

Hi,

I primarily earn income from salary but being an agent of 'XYZ insurance company' I receive commission. Please advise under which head this income shall be considered.

income-insurance insurance-commission insurance-agent business-income
1 Answers

Income earned as commission from insurance company would be income from business/profession, so he would need to file income tax return using ITR 4 form and show it as business income.

Pankaj Batra5212
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