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Amit Srivastava (CLC)     16 March 2014

It return for housewife.

My wife takes tuition for primary section at our place. Her yearly income is about 110000. How IT returns can be filed and under which head? Whether she has to attach any document?



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 4 Replies

karthikeyan.v.s (student)     16 March 2014

If she is taking tuition privately then the income from such tuition will be considered as income from business. Though she has an income(Rs.110,000/-) which is less than basic exemption limit (Rs.200,000/-)  there is no need to file income tax return. If u desire u can file a return stating the said income in ITR - 4 which will be useful if u are going for a loan in future.

 

Regards

 

CA Karthikeyan.V.S

Kumar Doab (FIN)     16 March 2014

She may include income from other sources as well e.g; interest from saving a/c etc................

Amit Srivastava (CLC)     18 March 2014

Whether she has to attach any document and maintain any types of books?

P JAMES VICTOR (ADVOCATE & TAX CONSULTANT)     18 March 2014

Dear Amit,

No need to attach any documents when you file returns through online.  For your case there is no need to file the return for your wife, since it falls well below the tax limit for woman.  I do not know your purpose of filing.  If you want to take any loan it will help you, but the income must be a real one, and you should make the proof for the business with bank statements.


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