Income tax return

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jamana (Querist)
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07 March 2014 sir,
I am prasad doing my Apprenticeship and earning Stipend of Rs 2000/- per month. And Have a small Investment which i am getting Income by deducting TDS.as my income is Very less. in order to claim the TDS i have to file ITR-1. whether i have to show my Income of stipend in ITR ? if yes under what Head it comes?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 what investment do you have? and what is nature of the income earned on this investment. If the income is in nature of interest, file ITR1 and you can show stipend as salary.

jamana

jamana (Querist)
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07 March 2014 Investment is Network marketing

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 for that you cant file ITR1. File ITR 4 if you wish to.

jamana

jamana (Querist)
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07 March 2014 Can u explain in detail because my PAN is registered as Individual

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 how does that matter? for an individual earning income from business, should file return in ITR-4.

jamana

jamana (Querist)
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08 March 2014 its not my bussiness know sir

Rupesh Jain

Rupesh Jain (Expert)
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02 August 2014 its not you business then you can show as income from other sources.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 August 2014 how do you define business?

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