Which itr form to be filed
This query is : Open
Ankit Sharma
(Querist)
10 August 2017
I have income from FD and home tuition fees. Income is below 2,50,000 rs. P.a. is it income from profession OR business?
So which income head is applicable? Is presumtive basis applicable as i dont want to prepare records? Which itr form to be used?
So which income head is applicable? Is presumtive basis applicable as i dont want to prepare records? Which itr form to be used?
K Srinivas, CMA CS
(Expert)
10 August 2017
Income from tuition fees is income from profession. Income from fd is income from other sources.
You may use ITR3
10 August 2017
Dear K Srinivas CMA Cs Sir.,
How you said the tuition fees is profession. Bcoz, Any qualification is required or not for the profession...?
Please reply...
How you said the tuition fees is profession. Bcoz, Any qualification is required or not for the profession...?
Please reply...
K Srinivas, CMA CS
(Expert)
11 August 2017
Teaching is a profession and tuition fees received by way of teaching easily falls under this profession category.
Raja sir, I believe there's no requirement that a qualification should be there before treating the assesseend as a professional
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
