Which ITR form to use to show income from Home Tuition and savings bank acct interest?

Hello…I do share trading in derivative market and give home tuition to students of my locality. For your information I am not a registered private tutor, so I don’t have any registration number for this and also I am not a salaried employee. I know that to show income from share trading business, I have to use ITR4 form. But apart from this I also have income from home tuition and savings bank acct interest. I want to know which ITR form I should use to show this income from home tuition and savings bank acct interest? Many many thanks in advance.

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2 Answer(s)

Dear Mr Rajesh Dutta

ITR 4 is a comprehensive form for all type of Income. As you are a derivative trader you are classified  under business. The Home tuition is part of your profession , same will come under Business & profession only , Bank interest you can declare under Income from Other sources.


TaxIQ Answered on August 11, 2015.

Thanks for your prompt reply!!!

1. In ITR4 form in “Nature of Business”  tab, I am giving “204 Trading (others)” for my Share Trading Business code in column number 1.  So Should I input “Home Tuition” in column number 2?? If yes, then what should be the code for “Home Tuition”?

2. Do Home Tutors must have registration number for their Home Tuition Business/Profession, if they want to show Home Tuition income in their IT Return?  I just want to clear my doubt in terms of Income Tax Regulations.

3.  Are you telling me to mention Bank Interest income in the same ITR 4 form only or in some other ITR form?? Sorry my questions may seem silly to you 😉 ( I am very new to this IT Return filing stuff)…

Will be waiting for your reply…Thanks…

on August 11, 2015.
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Dear Rajesh

You can use multiple codes in case of more than one business activity.  Home tuition is a Service sector . Know we need to take a call which resembles our activity. It can come under professional or Service other 0607 or 0714

Home tuition or services registration:- There is no registration for Income Tax other than PAN and TAN when you start commercial. You need to deduct if you hire professionally other tutors. If your revenues cross a Rs. 10 Lac you will have charge the Service Tax for which you need to take a registration. There can be other like professional tax and labour  registration etc.. depends on state where you work.

Same form ie . single form for all type of Incomes. The Interest need to be put in Schedule OS of the ITR form.

Hope all clarified

TaxIQ Answered on August 12, 2015.
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