Clarification needed on income from insurance advisory business.

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.

asked Jul 23 '13 at 20:03 by Shrikant Vijay Rane 11


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.

answered Jul 24 '13 at 01:29 by Pankaj Batra 5.2k320

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Asked: Jul 23 '13 at 20:03

Seen: 1,571 times

Last updated: Jul 24 '13 at 01:29