Tuition Fees as Income

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1 Points Posted on 27 December 2023

My wife is giving home tuitions. She earns around 8-9 Lacs per month. The cash received is deposited in her account.

1) She needs to fill which ITR form since it is exceeding 2.5Lac slab
2) She is not taking any proof or receipt from students. Will it be required to know the as a proof of the source 

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On 27 December 2023 at 14:56 Report
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Quick Summary
This discussion addresses a common query regarding declaring income from home tuition. The user's wife earns a significant amount monthly from tuition fees, deposited directly into her account. The core questions revolve around selecting the correct Income Tax Return (ITR) form for earnings exceeding the basic exemption limit and the necessity of issuing receipts to students as proof of income.

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133 Points Posted on 27 December 2023
I vl provide u a service, if interested pls msg
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On 27 December 2023 at 15:21
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48 Points Posted on 27 December 2023

Am I reading it wrong? is it really 8-9 lakhs per month?? in cash??

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On 27 December 2023 at 16:21
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Accountant
1227 Points Posted on 27 December 2023
Can file itr 3 or itr 4. considering 9 lakh receipts per annum.

itr 4 would be easier option.
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On 27 December 2023 at 17:08
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Profession Business
28246 Points Posted on 28 December 2023
No itr 4vis not easier.
Pls open another account in the name of major in yoyr family and senior citizen. show that income .
Open a business account and show that as loss . deposit that money in that account.
it will be nullified.
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On 28 December 2023 at 11:02

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