Which itr to be filled for getting Home Loan


This query is : Resolved 

Quick Summary
When applying for a home loan, the correct Income Tax Return (ITR) is crucial. For income earned through home tuition, which is considered business income, filing ITR 3 is generally advised. While ITR 4 might seem an option for certain presumptive income schemes, ITR 3 offers a more appropriate representation for this type of professional or business earnings when seeking a loan.

(Querist)
17 July 2020 Dear Sir,

My client home loan purpose filed the ITR . he is earning in cash home tuition which ITR to be filled as per Income tax

shivam jain (Expert)
17 July 2020 ITR 4 can be filed in which showing income u/s 44AD/44ADA.

denis (Querist)
17 July 2020 HOME TUTION IS PROFESSIONAL OR BUISNESS INCOME PLS ADVICE UNDER WHICH CODE

05 November 2021 Home tuition is business income.
For getting loan from bank, it is advisable to file ITR 3 in above case.


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