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Income from lecturing as visiting faculty - what ITR to file for AY 2020-21?

Sanjit (not applicable) (119 Points)

13 August 2020

i earn my income by lecturing and teaching degree college students as a visiting faculty in 3 colleges (TDS @ 10% is deducted under 194J from my cheques) and from casual tutoring a few students (income from other sources) and also interest on term deposits with banks income from other sources

I do not keep books of account

Which would be the most appropriate and beneficial ITR for me to file income tax for the AY2020-21 given that the major chunk of my income comes from lecturing and teaching as a visiting faculty in 3 colleges?

Thank you

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7 Replies

AMAN GUPTA (ARTICLE) (26 Points)
Replied 13 August 2020

U can file ITR 4 u/s 44ADA with showing 50% income of gross receipts in business and profession

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Manzil Arora (Others) (1012 Points)
Replied 14 August 2020

Hi Sanjit

Assuming the income is less than INR. 2 crores, for you, ITR 4 tax return (presumptive income) will be most suitable. This return is preferable when you don't maintain books and cannot calculate annual net income (income less expenses).

Technically, you just have to consider 50% of the amount received in teaching services as your taxable income. Rest will be reflected under income from other sources in same form.

Amit Choudhary (17 Points)
Replied 14 August 2020

Go for ITR 4 and declare 50% income on gross receipts

Sanjit (not applicable) (119 Points)
Replied 14 August 2020

believe 44ADA eligibility is for

Interior decorations
Technical consulting
Engineering
Accounting
Legal
Medical
Architecture
Other professionals, as mentioned below:
WHICH OF THE ABOVE CATEGORIES WOULD I FIT WITHIN IN ORDER TO CLAIM PRESUMPTIVE INCOME?

Manzil Arora (Others) (1012 Points)
Replied 16 August 2020

Hi Sanjit If not specific and clear with above options, choose "other profession".

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Sukhmani (Adjunct Faculty) (22 Points)
Replied 02 September 2021

Hi Manzil,

The new ITR Portal only has few options for business code in drop down for 44ADA section, none of which apply for adjunct faculty in social or environmental sciences.

Any advice?

Ashok Kumar (2 Points)
Replied 06 September 2021

Code 16019 - Other Professional Services n.e.c. is not available under drop down menu of 44ADA in the new ITR portal. Alternatively can ITR 3 or ITR 4 (as the case may be) be filed u/s 44AD with showing 50% income of gross receipt for lecturing as Visiting Faculty in business and profession