I run a small coaching , should i have to maintain record ?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2014 I run a small coaching . I teach 100 to 200 students in a year . I run coaching in my home . I want to file an Income tax but as i dont run a famous institute/coaching , i run a small scale coaching center with minimum resources .

Respected experts ,

1)please let me know how can i file income tax ?
2)should i also have to maintain record of students ? As i already told you , i run a small coaching , therefor i never used fee receipt concept , transaction was made hand to hand only , will it department raise any issue on this while filing my ITR ?

please Experts... help me

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 September 2014 as long as the fee received is recorded properly, it should not be an issue. Application of section 44AA shall depend on the turnover. If your turnover crosses 44AA limit, then you need to maintain books that should be able to give the clear picture of income earned and expenditure made.

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2014 sir , in a year i earn 250000 to 300000 . teach 100 to 150 students and each of them pay 2500 .