Filling my first i.t return

Hey, i am Filling my first IT return and showing stipend income as an article and some tution income.which return i should fill and which income i can show
Replies (14)

go for ITR I

 

u should file ITR 2

ITR 1 is For Individuals having Income from Salary & Interest.

ITR 2 is For Individuals & HUFs not having Income from Business or Profession

I agree with Vinay Somani

U havecto show ur stiepend income in other source and tution income in pgbp

I Think U Should File ITR-2A

 

 

 I THINK YOU ARE FILE ITR-2

 

 

 

 I THINK YOU ARE FILE ITR-2

 

I think u should file itr4s

I think u should file itr4s

I think u should file itr4s

You Should go with ITR-4 

Show your stipend income as income from other sources and tution receipts as income from PGBP

 

Note:- There are some views regerding stipend as exemp income but as per my view that is not a correct view so for safer site go with taxable the same.

If any tution receipt or any other income found fictitious then that will be taxable at flat rate of 30%.

So be sure about the correctness of receipts before filling the same.

It is good to declare tuition fees as income from profession (ITR 4) subject to you are legally permitted to run such tuitions, as you told you have stipend, please re check the terms of agreement. 

 

ELSE use ITR 1, Declare as income from other sources

 

If your income declared from profession or other source exceeds 150000 you have to maintain books of accounts 

if i file ITR 2 then

 

ITR 4 please... show tution income.. claim some expenses tooo... this will help you in creating some book cash...!!

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