Dear Sirs,
I have a question on which ITR to be filled ? . I have income from following
- ✅ Handwriting classes - I take class at home for a student and also goto a external class to teach which is owned by someone else.
- ✅ Savings bank interest
- ✅ Fixed deposit interest
- ✅ NCD interest
- ✅ LTCG from listed equity/equity mutual funds
- ✅ STCG from listed equity/equity mutual fund
I'd examine further is the applicability of Section 44AD to my tuition activity. Overall amount from the handwriting class is less than 1 Lakh ruppes with 80% coming as bank/UPI deposit and 20% coming as cash per year.
I have used following to show 1L rupees income
- Section: 44AD (Presumptive Business Income)
- Business Name: Handwriting Class
- Business Code: 21008 – Other services n.e.c.
which allows me to calculate presumptive income as
- Digital receipts: @ 6%
- Cash receipts: @ 8%
Question I have is Business Code: 21008 – Other services n.e.c. correct selection for Handwriting tuition classes ? or I have to select some other category as I couldn't find any other suitable category for this type of income in the dropdown.
Or you suggest that I should I fill only ITR 2 and show the income of 1L as other income source ?
Thanks
KV
CAclubindia
