Itr applicable

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D/Sirs,

           My wife teachs in a public school.Apart from that she take tuttion  after school time . she has interest  income from saving accounts,while her income is below the taxable limit and ITR never filed before.She would like to file her return of income,but having no record of salary being received  in cash. which ITR should be applicable to her ?

Thanks a lot,

Sandeep Bhardwaj

Replies (8)

as There is business income(or professional income whatever u may call) is involved called Tution income, You can use ITR 4S, and show salary, other source income and tution fee.

I recommend itr 1 as said below

If tution fee is not substantial then, use itr1 and show tution fee as other source income. REcord of salary recieved is not so important, as long as you have record of being employed.. but it is very important that you get salary slips in future(it is your right  you know).

 

I also want to know why you want to file return if income is below limit and no refund is expected?

I agree..use ITR 1 if tution fees are not substantial otherwise preferable to file in ITR 4 so that you can claim some of the expenses against it.

Accepting Victor

My suggestion:-

1. File under ITR 1

2. No need to disclose tutions income if you are receiving by cash & it's not substantial OR

    Disclose tution income, if substantial. But you may disclose only part of it i.e just enough not to fall into the next taxable limit.

3. Show interest on savings as income from other sources.

Also not filing return is only applicable for people whose salary & SB interest has been subject to TDS (incase if you have heard of it).

 

respected sir,

                Pls tell me name of income tax ward/circle for tution fees...

 

Thanks u all  gentlemen!

Thanks a lot for replying my querry, I am aware that if the income is not taxable and  no refund ,the filing of return is not required.I am having house on fund provided by public Bank, in future to get the enhancement in loan  or new loan for purchasing  a better accomadation ,the return of spouse may be helpful.That is the reason to file the return of wife.

 

Thanks,

 

Sandeep Bhardwaj

Originally posted by : Sandeep Bhardwaj

Thanks u all  gentlemen!

Thanks a lot for replying my querry, I am aware that if the income is not taxable and  no refund ,the filing of return is not required.I am having house on fund provided by public Bank, in future to get the enhancement in loan  or new loan for purchasing  a better accomadation ,the return of spouse may be helpful.That is the reason to file the return of wife.

 

Thanks,

 

Sandeep Bhardwaj

If you are filing for the purpose of Loan n all. Then Better go for ITR 4(S) (as bank prefers Business Income over Other Income). However, if u go for strict inference (presumed that tuition income is not substantial) then u shud file ITR 1

 

 Dear friends,

Thanks once again for providing  all these valuable suggestions.It is good to connect all learned

professionals.

 

Sandeep Bhardwaj

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