Income from part time home tuition & homeopathy consultation

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This discussion explores how to declare irregular income from part-time home tuition and homeopathy consultations, especially when it's less than £1 lakh annually. While reporting under 'other sources' in ITR-1 is suggested for the first year, especially if the total income is below £2.5 lakh, it's also noted that this income could potentially be shown as business income under Section 44AD. The advice leans towards using ITR-1 and describing the income as 'occasional home tuition & personal care advice on request'.

sieaus

sieaus (Querist)
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10 March 2020 Can income from part time home tuition to school kids & providing homeopathic medicine suggestion (not a fixed fee but whatever is given as token or even free) in a very irregular manner be shown as income from other sources, it being hardly a lakh in a year, besides interest from s/b & fd a/c, total being less than 2.5, in itr-1. If yes, what descriptttion of other sources to be given. There is not any other income in this case.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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10 March 2020 Better option to show such income as business income U/s 44AD.
The source under "other sources" is shown in Schedule OS: Income from other sources under para 1(e) Any other income (please specify nature).

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sieaus

sieaus (Querist)
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16 March 2020 can I not file itr-1 if the income is low, say hardly 1-1.2 lakh in a year. Can I describe it as "occasional home tuition & personal care advise on request to kids in an irregular manner"

sieaus

sieaus (Querist)
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17 March 2020 can I not file itr-1 if the income is low, say hardly 1-1.2 lakh in a year. Can I describe it as "occasional home tuition & personal care advise on request to kids in an irregular manner".

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
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17 March 2020 Its better to report under PGBP, but since this will be your 1st year of earning this income, you can report under other sources.
Mention as "Other Income" under other sources

sieaus

sieaus (Querist)
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17 March 2020 Thanks. Which one should I file, ITR-1 or other.