Itr 01 or itr 04

This query is : Resolved

Eshwar V (Querist)
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07 April 2015 Dear Sir/ Madam I am employed for full time in a college and I also take tuitions privately for students. For AY 2015 - 16 I want to declare my income and mainly I am doing for the purpose of using it for any bank loan in near future Do I need to prepare Income and expense account and declare tuition income as income from profession ITR 04 or Shall I declare it as Income from other sources ITR 01 Please help me in this regard

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 April 2015 As you are taking tuition privately show it under income from other sources and file ITR 1. Bank will only see the quantum of your earning.

Rupesh Jain

Rupesh Jain (Expert)
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07 April 2015 you can file itr -1 for salary and tution income

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Itr 01 or itr 04

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