A house wife has tution income of rs. 115000 and savings bank interest rs. 1800. Tution income is to be taxable under which head ? Whether ITR - 4 (SUGAM) can be used to file the return on presumptive basis ? There is no debtors, creditors, stock and only cash balance rs. 5200. Please post your answers.
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Tution income- head & it return
Replies (3)
these kind of returns are used to make only non taxable white income.
In your case int.. income is exempt if from saving bank, and tution income can be shown under income from other sources on a plea that she teach not on a regular basis but occassionaly for few months.
Section 44AD excludes specified profession, so please take care of these profession while filing above return under section 44ad
Form 4S
Dear Santosh,
IN YOUR CASE , TUTION INCOME WITH SB INTEREST , THEN , TUTION INCOME CAN BE SHOWN UNDER " INCOME FROM OTHER SOURCE " ( ITR-2) , BUT ONE THING YOU MUST REMEMBER THAT , SUCH TUTION INCOME SHOULD BE NOT ON A REGULAR BASIS .
PALASH RAKSHIT.
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