Job + tution income return form

 

Hello Sir/Ma’am,

I am currently doing job as a Professor at Diploma Engineering college, I am getting salary from the college via cheque and also I am running tuition classes for the students which results into cash payment so  can you please tell me which form should I use to E-file the return (ITR 1/ITR2 or any other form).

Also tell me how to show the same in the respective Form.

I want to show my both income so that I can apply for the higher amount of loan form the bank.

Your early response will be appreciated.

Thanks & Regards,

Arjun.

Replies (6)

GO FOR ITR1 AND TUTION INCOME CAN BE STATED IN OTHERINCOME

You can file ITR1 which covers both salary and other incomes

I think you should file ITR-4.

According to me, the income from tuitions classes should be clasified as Profits & Gains from Business & Profession.

So you should file ITR-4 in my view.

You should file your income tax return in ITR-2 by disclosing the Income from Salary in salary head and Tution income under the head Income from other sources. Further, for your information ITR1 applicacble only for income from salary & Interest Income. 

Originally posted by : Harsh Khakhi

I think you should file ITR-4.

According to me, the income from tuitions classes should be clasified as Profits & Gains from Business & Profession.

So you should file ITR-4 in my view.

Agreed with Harsh ji.

 

Guys Guys. Thanks to all of you personally for the response.

But honestly speaking I am still confused between ITR-1,2 and 4.

Hope you get my query.

Thanks again.

Arjun.

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