Which return is to be filed for Income as Stipend to doctors

ITR 553 views 5 replies

T Anusha

Student

9 Points Joined September 2018

Hii,

I am having a doubt. Client is having only income as Stipend who is pursuing DNB. He is getting stipend of Rs.40,000/- on which TDS u/s 194J @ 10% is deducted monthly. Their annual fee of DNB is Rs.70,000/-

can we claim rent as per Sec 80G ??

Now how the income to be treated and which ITR is to be filed for that ??

Can we treat it as IFOS in ITR 1 or Presumptive Income in ITR 4

Thankyou in advance

Needs your suggestion

Replies (5)

T Anusha

Student

9 Points Joined September 2018

Please help me in this

Sagar Patel

Tax and Business Consultant

11616 Points Joined July 2015

You can file your Income tax return under presumptive Taxation u/s 44ADA as TDS is deducted u/s 194J from stipend Income.
You can also claim 80GG rent Deduction subject to limit and fulfillment of condition prescribed u/s 80GG.

T Anusha

Student

9 Points Joined September 2018

Thank you very much sir

Sir, he is also paying Rs.70,000/- as Tution fee per year

can we claim deduction of Rs 70,000 as tuition fee ??

if yes under which section ?

Sagar Patel

Tax and Business Consultant

11616 Points Joined July 2015

Under section 80C tuition fees (excl. development fees or donation ect.) paid to any university, college, school or other educational institution situated within India for the purpose of full-time education of children is allowed as Deduction.

So, if his Parents is paying fee than his parents can claim Deduction, but he can not claim any Deduction.

Note: As income of Person is already less than 5,00,000/-, there is no tax liability (Zero tax) whether you claim any Deduction or not.