Income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2015 Hi,

I take home tuitions.

Also i received some money from my relatives last year. I put the money in bank on fixed deposit which generate interest income.

How do i file income tax returns?

Please guide.

Thanks

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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08 April 2015 file itr 1 and disclose both income in it.

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Querist : Anonymous

Querist : Anonymous (Querist)

09 April 2015 Thank you.

Do i need fee receipts for filling the returns. I mean to say fee receipts of students. The transaction happened in cash with no receipts with me. Please advice.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 April 2015 well tuition would normally be covered under the term "Business/profession". Therefore you should be filing ITR4. Whether you should have any accounting record or not shall depend on applicability of section 44AA.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 April 2015 Nikhil Ji completely agree with your reply. Similar reply is also given in the link given below.I dont know under which head Tution Income will be shown in ITR1.

https://www.caclubindia.com/experts/can-itr-1-be-filled-after-having-filled-itr4-for-last-year-1749299.asp#.VSam7vmUe3t

Many replies have been modified in the above link and arguments have turned into agreements. Nikhil Ji please enjoy the modified replies. I hope you have a good laugh :)