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Private Tuition Income

Debashis Aich (138 Points)

20 November 2019

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

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 20 November 2019

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

Yes, file ITR 3.

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Kapadia Pravin (17249 Points)
Replied 20 November 2019

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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