Return form to be used

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Avinash (Querist)
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15 July 2013 Greeting to all,
I am an individual, I am running tution class and my groos receipts is Rs. 4Lacs in FY.12-13.
Pls. let me know which ITR Form should I use. and how can i derive my taxable income. I have invsted Rs.1 Lac in PPF also. could I take benefit of 80C.

Thanking you,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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15 July 2013 ITR 4 should be used.

You can take benefit of amount invested in PPF u/s 80C.

Avinash

Avinash (Querist)
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15 July 2013 Thanks Sir,
I am not maintaining any books of accounts. Couldn't I use ITR 4S.

CA Pooja Agarwal

CA Pooja Agarwal (Expert)
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15 July 2013 you need to file ITR 4 ..and you can claim exeamption of 1 lakhs as contribution to PF.
So your taxable income comes to 3 lakhs where there is basic exemption of 2 lakhs. so you fall in 10% bracket

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