Private Tuition Income

Income from tuition Rs.3.5 Lacks. Books of Account maintain mendatary? File ITR 3?
Replies (2)

If that is the only income, no need to maintain books as per sec. 44AA of the act.

Yes, file ITR 3.

I think Books of Account will be required to be maintained under 44AA of I Tax Act ----- unless assessee opts for 44AD presumptive Taxation.

Under 44AD assessee has to file ITR4 Sugam Return.

If ITR3 is filed as regular business income then Accounts maintenance is must.

Here is extract of 44AA(2)(i) ...
""
(i) if his income from business or profession exceeds 250000/- or his total sales, turnover or gross receipts, as the case may be, in business or profession exceed or exceeds 25 lakh in any one of the three years immediately preceding the previous year.... ""

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