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Which itr to use

Others 1530 views 6 replies

If a person is having income only from home tution's then which itr form should be filled by her? ITR 4 or ITR 1

Replies (6)

 ITR 1 if tution fees are not substantial otherwise preferable to file in ITR 4 so that you can claim some of the expenses against it. You can use ITR 4S also...
 

ITR 1 if tution fees are not substantial otherwise preferable to file in ITR 4 so that you can claim some of the expenses against it.

Read more at: /forum/itr-applicable-214009.asp#.UHJN_Gckx90

Dear Prakash,

If the person (Individual) earning tution fee is a professional (Not having income under the head "Salaries"), the income is chargeable under the head "Profits and gains of business or profession" in which case ITR 4 is used. If the person is not a professional, the income is chargeable under the head "Income from Other Sources" for which ITR 2 should be used.

ITR 4S (Presumptive Basis only)  is not used in either case

For any mistakes, I may stand corrected.

You need to file ITR-4 and show it as income from Business or Profession. Simultenaously, u can also claim expenses..!!!

Thanks for the quick replies... but the point is we have not more then a lac income and itr4 is very long to fill in. is there any simple guide about which column's to fill in in general.... if you have any readymade listing available...

 

also if i am filing roi for fy0910 & fy1011 now then do i need to file in new return forms and online ??

You are required to file the return of income only if your income exceeds the taxable limit. If it is below Rs. 2 lacs, you are not required to file return of income.

If you don't maintain books, and simply fill up fields related to "No account case".

Return for F.Y. 2009-10 has become time barred on 31st March, 2012. For F.Y. 2010-11, belated return can be filed upto 31st March, 2013. But the returns forms should be for that assessment years only.

 

And yes, returns can be filed online for the above.

Originally posted by : Ashish M

You are required to file the return of income only if your income exceeds the taxable limit. If it is below Rs. 2 lacs, you are not required to file return of income.

If you don't maintain books, and simply fill up fields related to "No account case".

Return for F.Y. 2009-10 has become time barred on 31st March, 2012. For F.Y. 2010-11, belated return can be filed upto 31st March, 2013. But the returns forms should be for that assessment years only.

 

And yes, returns can be filed online for the above.


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