Which ITR to use? I am giving Tuitions

This query is : Resolved

Guest

Guest (Querist)

18 June 2008 Greetings,
For financial year 2007-08, I earned by giving tuitions. I am single aged 45years and possess PAN card.

My total earnings are Rs.1,30,000 for year 2007-08. My expenses are for house where i live and provide tuitions - Rent (Rs.30,000 ), electricity (Rs.3,600), water and maintenance (Rs.2,400) all others are living expenses.
Which ITR should I use? And what will be tax liability?

PLEASE Help!!!

MANAS ROUT

MANAS ROUT (Expert)
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18 June 2008 your taxable income is 94000 which is lower than the exemption limit so u dont have to pay tax if you are able to show this expenditure for u r business purpose .

Guest

Guest (Querist)

18 June 2008 Thank you, Mr.Bhushan. Am I expected to file ITR-4? showing a taxbale income of 94,000?

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