Professional Income (Private tuition)
This query is : Resolved
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LIMPA CHAKRABORTY
(Querist)
05 August 2021
Cash received Rs. 550000/- as Professional Income (Private Tuition), Rs. 48680/- from S/B, F/D and dividend and Rs. 3840/- as capital gain (LTCG). May submit ITR-4 for the A.Y. 2021-22 ? What will be its premusative income ?. There is TDS of Rs. 4840/- and savings in U/s 80C of Rs.150000/-. Kindly send your valuable opinion. Regards, Limpa Chakraborty
LIMPA CHAKRABORTY
(Querist)
05 August 2021
Kindly send your opinion and direction. Regards, Limpa Chakraborty
CA R SEETHARAMAN
(Expert)
05 August 2021
Tuition income will not be considered for opting for 44ADA, hence file ITR 3.
CMA Poornima Madhava
(Expert)
05 August 2021
@ Seetharaman:
Is it not right to treat tuition income as business income and opt for 44AD?
Is it not right to treat tuition income as business income and opt for 44AD?
CA R SEETHARAMAN
(Expert)
05 August 2021
Yes, you are right provided a tuition centre is set up and persons are employed.
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