Hi Experts,
My wise conducts regular tution classes and has income from it. She also has income from FD. Combined income is less than 2 lakhs. Am I supposed to file returns and if yes whichITR form should i fill.
Thanks in advance for your guidance.
Sourav
If Exempt income is more than Rs 5,000 /- than ITR 2
yOU SHOULD FILL ITR-1
Thanks Saloni, Mitesth, Mihir for your quickreply. I have a followup question on this. This is more to increase my knowledge. Why shouldI she not fill ITR-4S? I read about ITR-4S and preemptive business and some places it was mentioned that tution is a for of business. hence asking.
Thanks again for your help.
Presemtive Business exclude professional Income thats why Tution fees cannot be charged u/s 44AD.
You Have to File ITR-4 beacuse income from regular tution is covered under PGBP..........
Why ITR 1&2 please clarifty ?? and correct me if i am wrong.
Thanks
CAclubindia
