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Tuition Income

Tax queries 284 views 3 replies
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consultant
79 Points Posted on 20 October 2020

Dear experts,

 

One of my client having income from Tuition and interest income. Please clarify following:-

 

1. which ITR to be filed

2. Whether tuition income can be shown as "Professional income u/s 44AD and show 50% profit as income.

 

Regards

 

P Narayanan

 

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On 20 October 2020 at 15:53 Report
Replies (3)
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17 Points Posted on 20 October 2020
Sent your details through email to me I will Filled it for u
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On 20 October 2020 at 16:41
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Accountant
3662 Points Posted on 20 October 2020
Use ITR 3 Form to file Tuition & Interest Income under Income from profession

You can't file u/s 44 AD
9 Reply
On 20 October 2020 at 23:52
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Tax consultant
5895 Points Posted on 21 October 2020
As teaching proffession is not covered under sec 44AA(1) any notice hence you are not eligible for presumptive taxation under 44ADA
the fees received from teaching is taken as gross receipts hence you can file ITR 4 under section 44AD
57 Reply
On 21 October 2020 at 01:02


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