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| *Loan,banking and credit>>>income tax |
ITR 2 for income tax returns.... in doubt? |
I am LIC agent and my income is from comission earned by selling LIC products. Which ITR form should I use to file I -Tax returns for F.Y. 2006-07? I am doubtful wether ITR-2 can be used in my case. Please explain with clarifications. Also, what expenses can I avail of in arriving at my taxable income from comission as I have not kept record of cash expenses incurred by me (during the year) while performing of my agency work.? ITR 2 can be used for filing your Return of Income and you can write the deductions under section 57 in the said form You can avail expenses like proportionate amount of Telephone, Mobile and Travelling & Conveyance spent Salary given to a Junior Electricity charges if you have an office for this purpose Depreciation on your Vehicle and Computer if any, Proportionate amount of expenses incurred on Business Promotion and Staff Welfare (Tea Snacks etc) |
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