Bifurcation of income from other sources

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MANOJ MODI

T&A

36 Points Posted on 24 July 2014

Dear Friends , I want to file itr for fy 2013-14. I want to show my income of rs 2.5 lacs under income from other sources. I have deduction under section 80C of approx rs 40000 so my tax liability would be nil. but I don't know how to bifurcate this 2.5 lacs amount in other incomes on which no matter about TDs and can be shown under other income . briefly I want to know which incomes should be shown in other source income and of what amount so that there will no TDs liability. plz help and respond early because less time is left to file itr.

Replies (2)

Tribhuvan Aditya Singh

Student as well as Self-employed

3853 Points Posted on 24 July 2014

it is your income and you jave earned it, so you must know from what sources you have earned it....... but if i am not wrong, i think you dont have any income but still want to file return with income of 2.5 lakhs.... if this is the case, then show income from part time tuitions under other sources. no tension regarding tuitions and no need to maintain any books. simple and secure..... file itr 1 for your case.

MANOJ MODI

T&A

36 Points Posted on 25 July 2014

Hello Tribhuvan ji, thanks for your answer. you are right I have no income but still want to file itr. will it be okay to show tuition fees with 2.5 lacs ? can you please tell me other income sources also along with tuition fees? thanks