If some one having tution income of Rs. 170, 000 and after deduction of expenses 40000, then in which ITR will it be shown? ITR 4 or ITR 4S
2 Replies
nitin suvarna
(C.A FINAL)
(828 Points)
Replied 25 March 2012
it is in nature of income from other sources{ifos} (in general),but if it is the main business it can be business income too .In IFOS u can take dedn of exps.....
CA. Tushar Mittal
(CA Professional in Practice)
(73 Points)
Replied 26 March 2012
You can show your income from tutions u/s 44AD under head Income from Business & Profession.
There you have to show minimum 8% profit on Gross Receipts.
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