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Tuition and rent income doubt different problem



Hi.. i am a housewife, I have a let out property which we rented out for Rs 150000 per year, i take tuition of my neighbor children and i have income of Rs 160000 per year from tuitions (i dont have registration). and zero interest income. kindly guide which tax form should i fill ?

 
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Coaching and Practice in Tax Audit Law.

AS OF NOW TILL YOUR INCOME DOES NOT CROSS BASIC EXEMPTION LIMIT I.E 250000 YOU MAY FILE ITR2 AND ONCE LIMIT WILL CROSS SHOW TUTION INCOME AS BUSINESS INCOME AND CLAIM EXPENSES TO REDUCE TAX BURDEN

 
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Hi,

you must file ITR 4 form

 
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Coaching and Practice in Tax Audit Law.

Originally posted by : ponnusamy
Hi,

you must file ITR 4 form

I DISAGREE. HER INCOME IS ALREADY BELOW LIMIT.

ITR2 WILL BE PERFECT TO AVOID ANY NOTICE

 
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thanku for ur kind reply maam, i want to ask that if my income crosses the limit of Rs250000 then while filling ITR 4 can i simply show tuition as business income without registration ??

 
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CMA ,CA FINAL STUDENT

Yes madam.You can file ITR 4 for your tution fee income.You can opt 44 AD and declare 8% or more of your total tution fee receipt as your income from business(service income).

You can use business code '17007" & renal income as income from house property.

 
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thanku for ur kind reply anjali dear, so does that means registration is not required ??

 
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CMA ,CA FINAL STUDENT

Are u talking about GST resistration?

If yes no need to take registration.

 
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