Commission Income

I have a property commission income for Rs 1.5 lac, which was received by me by a broker and TDS for Rs 15000/- also deposited to IT Deptt and a rent income for Rs 40,000/- with a joint name house. Which ITR form should I use.

asked Jul 06 '12 at 12:38 by ANIL JAIN 1124


Property income would be considered as income from business/profession, so you would need to file returns with ITR-4.

answered Jul 06 '12 at 12:45 by Pankaj Batra 5.2k320

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thanks for your reply, pls suggest me that can I file ITR2 with INCOME FROM OTHER SOURCES FOR THE COMMISION AND RENT INCOME INSTEAD OF ITR4 ? I do't want to book any expanditure for commision income under property business.
(Jul 06 '12 at 14:17) ANIL JAIN
Commission income cannot be treated as income from other sources. Rental income has other section as income from house property. You will have to file using ITR-4.
(Jul 06 '12 at 14:25) Pankaj Batra
Thanks a lot sir
(Jul 06 '12 at 14:30) ANIL JAIN

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Asked: Jul 06 '12 at 12:38

Seen: 1,610 times

Last updated: Jul 06 '12 at 14:30