Income for tuation fees
This query is : Resolved
28 July 2013
Dear sir,
a person is teaching students and earned 250,000,
how this income would be treated. can i take presumptive income @8%?
which ITR would be filled?
a person is teaching students and earned 250,000,
how this income would be treated. can i take presumptive income @8%?
which ITR would be filled?
28 July 2013
Teaching is one of the best professions in the world and we all have great respect for the teachers.
.
44AD should not be applied on Tuition Income.
.
Taxable slab starts from 2.00 lac.
.
After debiting genuine expenses towards , Conveyance, Telephone, Depreciation, Books Periodicals, Stationery, Electricity, etc. the teacher should ideally pay tax @ 10% in case his net income still lies in the minimum taxable slab.
.
.
44AD should not be applied on Tuition Income.
.
Taxable slab starts from 2.00 lac.
.
After debiting genuine expenses towards , Conveyance, Telephone, Depreciation, Books Periodicals, Stationery, Electricity, etc. the teacher should ideally pay tax @ 10% in case his net income still lies in the minimum taxable slab.
.
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