one of my client he seeks file itr for the loan purpose and he's earning tution fee i.e home tution
i want to knw which ITR better 1 or 4
wether tution is cover in business & profession for the purpose of 44ADA
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ITR-1 or ITR- 4
Replies (4)
What is the amount of tuition income?
approx 3 lack to 4 lack
Generally home tutions are not recognised as business income....... so mostly assessed in ITR1
But depending upon bank loan requirement better to do some homework and file ITR 3 with P&L acc & BS as of business income.
No it doesn't fall under section 44ADA
but we can file under section 44AD @ 6% instead of ITR 3.
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