You can show tuition income as "income from other sources" and claim expenses relating to earning such income.
Hi, I work in a software company. They have given me form 16. I also earn from tutions. Can i show that tution income while filing income tax. If yes, in which section??
You can show tuition income as "income from other sources" and claim expenses relating to earning such income.
Option 1;- a) Dont inform your employer about your other income and request him not to file your returns. Consult a CA. File return with him by sharing details of your income, expenses, assets and depreciation. This is advisable.
Option 2; - b) Inform your employer about the additional income after taking into consideration expenses. They will deduct tax on that.
Dear Sir,
You can show Tution Income as Income from Other Sources and also claim genuine expenses in relation to earning that Income.
Note: That income will be liable to tax if you are above the Basic Exemption Limit.
Thanking You.
Regards,
CA Rohit R Sharma.