E-filing help - which ITR form to use?

Hi Soum

First let me clear you one thing. Income from Teaching is not subject to 194J(Fees for professional or technical services )194J is applicable to specified profession and teaching is exclusively excluded from its ambit.You have to check it out first.

You need to file ITR 4

Next time file ITR before 31st July. You cannot revise returns which are filed after 31st July.

Originally posted by : Mihir
	You need to file ITR 4 Next time file ITR before 31st July. You cannot revise returns which are filed after 31st July.

AGREED                                        

Originally posted by : CA RICHA BOTHRA
	Teaching is not subject to 194J(Fees for professional or technical services )194J is applicable to specified profession and teaching is exclusively excluded from its ambit.

Thank you, Richa. I'm not sure if I understand you corrctly when you mention 194J. However, I have a Form 16A issued by the college where I teach at and it says Fees for Professional or Technical Services.

Originally posted by : Mihir
	You need to file ITR 4 Next time file ITR before 31st July. You cannot revise returns which are filed after 31st July.

Thank you, Mihir. And I shall keep in mind your advise of filing before July 31.

I was looking at the ITR4 and it mentions "Nature of Business or Profession" - am I supposed to enter Teachign there?

Could you please point to a guide that would help me go with ITR4?

Many thanks!

Dear Soum,

Applicablity of ITR is depend upon basic Income source. Here you have mentioned two types of Income. ITR 4 will be applicable when Ur turn over is less than Rs. 60 lacs and profit is more than 8%. In other words ITR 4S should be filed with more than 8% profit. It means assessee will be treated as doing presumptive business. If we assume that one basic source of income is Salary and income from teaching is consider under income from other sources. Then ITR 2 (For Individuals and HUFs not having Income from Business or Profession ) will be applicable.

Originally posted by : Pragnesh Sitapara
	Dear Soum, Applicablity of ITR is depend upon basic Income source. Here you have mentioned two types of Income. ITR 4 will be applicable when Ur turn over is less than60 lacs and profit is more than 8%. In other words ITR 4S should be filed with more than 8% profit. It means assessee will be treated as doing presumptive business. If we assume that one basic source of income is Salary and income from teaching is consider under income from other sources. Then ITR 2 (For Individuals and HUFs not having Income from Business or Profession ) will be applicable.

Thank you. My basic income source was salary. Should I use ITR2 and enter my income from Teaching under "from sources other than from owning race horses (3 of Schedule OS):?

Please clarify if myy understanding is correct.

ITR efiling handbook attached.

Originally posted by : Mihir
	ITR efiling handbook attached.

This is very useful, thanks!

The question now is this - Is income from Teaching to be considered "Profit or Gains from Business of Profession" or "Income from Otehr Sources"?

when your main soruce of income is salary then Income from teaching will come under Income from other sources.

Ok soum U mean you are a Professor in a college ,i guess. So under this circumstances you are an employee of the college and income must be taxed under the head Salary.But i dont know how tds is getting deducted under the head 194J in your case.Anyways if it is so u should show it under other source income and file ITR 2

Originally posted by : CA RICHA BOTHRA
	Ok soum U mean you are a Professor in a college ,i guess. So under this circumstances you are an employee of the college and income must be taxed under the head Salary.But i dont know how tds is getting deducted under the head 194J in your case.Anyways if it is so u should show it under other source income and file ITR 2

You're right, Richa. I think I should use ITR2. Thanks a lot.

ITR 4 will be applicable

Originally posted by : RAJESH CHOUDHARY
	ITR 4 will be applicable

Thanks. but I'm somewhat confused now. Why not ITR2 as some others have suggested here?

Sorry, the advice seems divided between ITR2 and ITR4 and it leaves me confused.