Income tax

ITR 396 views 13 replies
hello i am earning 12000 a month as a tuition income but have not maintained any books for this. and i want t file a return for AY 16-17 and AY 15-16 this july. which return i have to file and other things to consider before filling it
Replies (13)
file your income tax return under presumptive income basis, 44AD.

I think ITR-1 or ITR-4

ITR -1 : Income from other sources

or

You may submit your return in ITR-4  : Income from Business or Profession

ITR -1 : Income from other sources

or

You may submit your return in ITR-4  : Income from Business or Profession

presumptive income basis if you file use itr 4s
u should file itr -1.

yes ,  ITR 1 should be filed.

why itr 1 she is telling clearly that she don't have books of accounts and i guess you are filing just for the purposes of loan are something, by having an other sources income alone banks might not prefer, you will be under slab itself, on the basis of your requirement follow income from other sources or business income

As you have mentioned Tution Income, it is Profession

Your Income 12000 x 12 = 144000

You can claim Expense for this Income and deduct it from your Tution Income

If it is above 120000 then maintain books of Accounts

You will have to file ITR 4 because Proffesison Income must file ITR 4

File itr 4s under 44ad

agree with sanjeev, i also opine the same as no accounts are present
i donot want to claim any expenses and someone is telling about ITR2 ALSO I AM CONFUSED

If you don't want to claim any expense, then ITR 4S would be appropriate to file on presumption basis u/s 44AD. in that case no need to maintain books of accounts.


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