Income tax
if any one who is non graduate person and his only income is from pvt. tuitions. 1. under which head his income become liable to tax. 2. whether he has to take profession tax no.
Replies (3)
Hello
Its depend on you.. PGBP or Other sources both are correct.
If you intend to continue with tution income then show your income as Profit or Gain from business or Profession(PGBP) As it will help you to claim expenses against your income in future where your income will go on increasing.
You can deduct these expenses which are directly related to your tutoring work from the income you earn –
- Textbooks you purchase to keep yourself up to date
- Cost of seats or chairs used for tuitions
- Stationery
- Advertising or cost of pamphlets
- Photocopying or printing costs
- Commuting to take tuitions
- membership fees to educational institutions or organizations relevant to the field
- Any other expenses which is directly related to tutoring work. If partially used for personal purposes allocate a fair % to tutoring work.
Thanx n whether he has to take profession tax no.?
Thanx n whether he has to take profession tax no.?
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