Professional Income (Private tuition)
This query is : Resolved
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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
05 August 2021
Kindly send your opinion and direction. Regards, Limpa Chakraborty
05 August 2021
Tuition income will not be considered for opting for 44ADA, hence file ITR 3.
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?
05 August 2021
Yes, you are right provided a tuition centre is set up and persons are employed.
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