AY2017-2018 ITR to be filed by March 31, 2018

You will have to file ITR 3.

You should file ITR-4.

After June what was your main source of income. If it was insurance commission only then you need to file ITR 3 otherwise ITR 2.

ITR 3 will be suitable for filing of Salary + Business + Capital Gains income

You can select 44ADA in case of your business income and show without maintenance of books of accounts and show profit of 50% of receipts.

Thanks,

CA Sourabh Pahuja

For profession income you have to file ITR 3 as you have salary income also along with it.

If profession amount is not so material then you can file ITR 2 and show the Commission amount under head other sources.

Thanks,

CA Sourabh Pahuja

Yes, you can file ITR-2 but you will not be able to avil the benefit of Section 44ADA and will have to prepare Books of Accounts.

If you want to show insurance commission income as other income you can fill ITR 2. If it is your profession then you must file ITR 3, claim expenses related to it.

Hi,

You can use for ITR-2, by choosing insurance commission income as "income from other sources".

ITR-3 can be used if you want to claim insurance commission as your business.

Regards,

ITR 3 should be usedfor filing of Salary + Business + Capital Gains income

Regards,

Nikhil

ITR 2

All the items can be covered under ITR-2.

If you don't have P&L for insurance commission, you can show the same as Income from Other Sources.

Then better you use ITR-2 and show commission income as "Income from other Sources".

Hi

Since you are not showing the commission income as a professional income, you can show it as other income. ITR 2 shall suffice your requirements.

Hope this clarifies.

I guess ITR2 shall suffice in this case.

Simply file ITR 2 and show the commission income under head Other sources and all other incomes in their respective heads.

This will work for sure.

Thanks,

CA Sourabh Pahuja

Considering the quantum of insurance commission, you can treat it as other income and file ITR 2.

I don't foresee any challenge.

As commission income is not big amount here,u can file ITR 2 disclosing it as other sources income.

ITR 3