Itr form for tution income/ mf brokerage

M P Singh (AM) (28 Points)

24 July 2014  

I need some clarification in ITR filing for AY2014-15

1. I have not filed any return for last 3 FY's i.e. 2010-2013 
2. My income for FY2013-14 is  2.0 lacs from Tutions & other Misc. sources+ Rs.38000/- from M.F. Brokerage + Bank Interests (savings)
3. I am not maintaining any Books of A/c's
4. I have some capital Losses (short term) in FY2013-14

My query is :

1. Under which category of business will be my assesment i.e. under catg 301 ( commision agents) or  607 (others) or any other category as an Individual Assesse
2. Accordingly which ITR form will be applicable for me 4 or 4S. Because ITR 4 requires details of your P&l,balance sheet etc. which I dont maintain. Moreover major part of my income is from Tution and not Commision agent which I have read have since been excluded u/s 44AD.
3. Can I claim 50% of my brokerage as expenses towards various charges (conveyance+mobile etc) i/c my business as Commission agent. If so, do I have to quote the net amount i.e. total received (38000) less expenses rebate (19000); as my Profit & Loss under the coloumn.

4. Provision and claim in ITR for short term losses in the FY2013-14 ( AY2014-15).

Thanks

M P Singh