ITR form for Home Tuitions and Gift Received

You can fill the most basic form i.e. ITR 1 and provide income from tuition fee as income from other sources.

Your understanding about the clubbing of income is absolutely correct its great that people have such awareness. However you have to check the set off method to do it correctly.

When you were knowing that there will be clubbing of income then there was no sense in directly giving such gift to your wife.

We provide service of filing return of income if you provide documents over mail.

Hope you find it helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

1) The ITR form 1 can be used. The tution income to be shown under the head Income from other sources. For exact column details kindly refer any tax consultant or TRP for the ITR filing purposes.

2) Yes, the understanding of clubbing of income is correct.

Dear Sir,

Hope you are doing well !

1. ITR 1 can be used. Income from home tuitions will be shown as income from other sources under the head Income from other sources.

2. Yes, your understanding is correct about clubbing provision.

Thanks & Regards,

Payal Chhajed

Hi,

- For your wife use ITR-4 and file the ITR u/s 44 AD.

- In your ITR, you can club the set-off of loss in the hands of your wife with your gain but only long term loss can be set off with long term capital gain and short term can be set off with both.

Thanks

Dear Manish,

1. ITR 1 and show the income under income from other sources.

2. Yes, the understanding is correct.

Hi Manish,

1) She can file ITR form 1 and tution income can be shown under the head Income from other sources.

2) Yes, the understanding of clubbing of income is correct.

Regards,

Nikhil.

Hi Manish

You only need to show the tuition income in your wife's ITR. Income from investments shall be clubbed in your hands.

You may show the tuition income as:

1. Income from business & profession - File ITR 3

OR

Considering the income is not much,

2. Income from Other Sources - File ITR 1.

It will only be shown in the balance sheet of both of your accounts if you upload them.

Other than Balance sheet such amount is not required to be shown anywhere else.

There is no need to disclose it separately. Since it is a banking transaction you can always show and prove that it is just a gift, if there is any query.

1. She should file ITR 1.

2. Yes, your understanding is correct.

Yes, she will show gift under exempt income. You don't need to show gift anywhere in your return.

Hi

Your wife can show gift as exempt income in ITR.

However, any income arising out of such money transferred as gift to your wife shall be taxable in your hands. The same needs to be reported in your ITR.

Dear Sir,

Yes, she will have to show gift under exempt income.

You don't need to show gift anywhere in your return.

Thanks & Regards,

Payal Chhajed

Hi,

- Yes she needs to show under exempt income.

- You need not to show it anywhere.

- You can show her income as income from other sources and file ITR-1.

Thanks

Hi,

Your wife just need to show gift amount in exempt income,

You do not need to show gift amount anywhere in ITR.

She can declare gift income under exempt income .

You need not to show it in your return of income but gift should out of declared income only.

If she is not maintaining the books of accounts then she need not to show the gift. Not in ITR also.

And if you are maintaining books of account then you have to show gift given to wife in capital account other wise no need and no need to show in ITR at all...