Choosing correct head of income
This query is : Resolved
06 October 2015
Dear All,
please guide me.
A women gives food (tiffin) service only to 4-5 students in her neighbourhood throughout the year and earns approx. 1 lakh. Her cost is approx. 55000/-. she does not maintain any records. can we show her income under income from other sources = Net 45000/-. or we should use form 4 / 4s to show income from business/ profession as profit = 45000/-.
which ITR form should be used and why ?
thanks.
please guide me.
A women gives food (tiffin) service only to 4-5 students in her neighbourhood throughout the year and earns approx. 1 lakh. Her cost is approx. 55000/-. she does not maintain any records. can we show her income under income from other sources = Net 45000/-. or we should use form 4 / 4s to show income from business/ profession as profit = 45000/-.
which ITR form should be used and why ?
thanks.
06 October 2015
No need to file return if she earns no other income.
07 October 2015
but if she still wants to file her return to prove his part in family income, then under which head to show her income and which ITR to select.
07 October 2015
To make it simple file ITR 1 showing it under income from other sources.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registration in the state of maharashtra
- Service Provider GST
- 26B Form submission
- TDS on amenities like electriity / transformer
- RCM is applicable or not (labour Charges , loading and uloading charges)
- 26QB last installment Query
- Input tax credit on officw kitchen furniture fixed to wall and drawers
- Input tax credit on modular office kitchen
- What is turnover in case of intra day trading?
- Bill from and ship from
- Causal labour
- GST ITC- Society Maintenance Charges
- Regarding demerger of firms
- Utilization of Electronic Cash Ledger in GST
- Investment discussion
- Domain Purchase-15CA & 15 CB
- Query regarding filling form 112 during articleship
- Input Credit available in Credit ledger
- If the GSTR1 filed after due date and the invoices mentioned GSTR1-A, will we be able to claim ITC o
- REGARDING RETIREMENT OF PARTNER
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
