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Filling my first i.t return

20 May 2016

Hey, i am Filling my first IT return and showing stipend income as an article and some tution income.which return i should fill and which income i can show

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14 Replies

Ravi Jorahosur (Working) (251 Points)
Replied 20 May 2016

go for ITR I

2 Like

Vinay somani (CA, CS) (Assistant Manager-Accounts) (549 Points)
Replied 20 May 2016

u should file ITR 2

ITR 1 is For Individuals having Income from Salary & Interest.

ITR 2 is For Individuals & HUFs not having Income from Business or Profession

1 Like

Harshad Kanekar (Taxation and Accounts Executive) (314 Points)
Replied 20 May 2016

I agree with Vinay Somani

1 Like

RAJESH RANJAN JHA (ARTICLE ASSISTANT) (251 Points)
Replied 21 May 2016

U havecto show ur stiepend income in other source and tution income in pgbp

1 Like

MOHIT SETHI (AA) (28 Points)
Replied 21 May 2016

I Think U Should File ITR-2A

1 Like

Ramanuj (Accountant.) (834 Points)
Replied 21 May 2016

I THINK YOU ARE FILE ITR-2

1 Like

Ramanuj (Accountant.) (834 Points)
Replied 21 May 2016

I THINK YOU ARE FILE ITR-2

1 Like

ANGREJ SINGH (STUDENT) (21 Points)
Replied 22 May 2016

I think u should file itr4s

1 Like

ANGREJ SINGH (STUDENT) (21 Points)
Replied 22 May 2016

I think u should file itr4s

1 Like

ANGREJ SINGH (STUDENT) (21 Points)
Replied 22 May 2016

I think u should file itr4s

1 Like

shivam agarwal (ca student) (175 Points)
Replied 22 May 2016

You Should go with ITR-4

Show your stipend income as income from other sources and tution receipts as income from PGBP

Note:- There are some views regerding stipend as exemp income but as per my view that is not a correct view so for safer site go with taxable the same.

If any tution receipt or any other income found fictitious then that will be taxable at flat rate of 30%.

So be sure about the correctness of receipts before filling the same.

Eshwar V (Asst Prof of Commerce) (54 Points)
Replied 22 May 2016

It is good to declare tuition fees as income from profession (ITR 4) subject to you are legally permitted to run such tuitions, as you told you have stipend, please re check the terms of agreement.

ELSE use ITR 1, Declare as income from other sources

If your income declared from profession or other source exceeds 150000 you have to maintain books of accounts