Itr form

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Respected Experts, Pls tell me which ITR form should be filling online by a tuition fees income holder....

Replies (8)

ITR-4, because it covers under the head " Income from Business or Profession".

 

 

Tution fee income  is your income from business & Profession therefore ITR 4 (assuming entity is not   P'ship firm or Company)

if your business size is small or is in idol capacity then u can treat it as OTHER SOURCE income then ITR 1 can be filled Provided u dont have any capital gain income or u dont have more than one house property if u have capital gain income or more than one property then ITR 2

Thanks alot vipul and manish

of course u can use other sources from itr1

but

IF U FILE ITR4 U CAN CLAIM SOME EXPENSES AGAINST YOUR TUTION FEE,,WHICH REDUSES SOME AMOUNT OF UR TAX LIABILITY

 

in Other source also u can claim EXPENSES U/s 57

 

If your coching is not register then u can file ITR 4S or ITR 4

. ITR 4S is most easier then ITR 4 and you can also claim expenses in it.

ITR 4S is only for small Business where the total sales/turnover/gross recipts (business) is .

upto Rs 60 Lack 

     Income from such business is calculated on Presumtive basis i.e 8% of total sales/Turnover/Gross recipts from BUSINESS & no further expensess can be claim U/S 30 to 43 except remunaration to partner in case of P'ship firm

 

It is also applicable to sec 44AE,44B,44BBA presumtive income

ITR 4 my suggestion would be not go with 4s

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