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4 How to select tax return for individual for salary , Tution and capital gains? (Manish)
Project - Make Knowledge free " Hi Amlan, I came to know about your extensive work on Income Tax filing and liked the way you prepare your tutorials. They are very easy to follow. I have seen your tutorials on ITR-1, 2, 2A & 4, but, still would like to know from you which ITR should be filled if a person is a salaried school teacher and also has income from private tuition and capital gains, which he wants to declare. Please advise.
Solution - By Amlan Dutta
+Manish Sharma , good to know that you like my work but am sad to see that you never went through it because if you had you would have answered your question yourself.
But let me still answer it , Selection of return is so that the person can depict his taxable income heads completely and taxes paid on them . For individual person , the returns to choose are from ITR 1,2,2A,,3,4,4S So individual will select the return form which will help him/her depict all income schedules that apply to him thus allowing to present to the department his scope of taxable total income Here , the individual has income contributed by 1.) salary - so, return form needs the salary schedule 2.) Private tution - if not of regular nature , can be shown under other sources ( so , other sources schedule is needed ) 3.) Capital gains - so capital gain schedule is needed ITR 2 is the simplest form having all this income schedules So , clearly therefore ITR 2 is the return form which the individual will select allowing him /her to present his entire scope of total income contributed by salary , tution ( other sources ) and capital gain schedules By - Amlan Dutta
Hi Amlan, I came to know about your extensive work on Income Tax filing and liked the way you prepare your tutorials. They are very easy to follow. I have seen your tutorials on ITR-1, 2, 2A & 4, but, still would like to know from you which ITR should be filled if a person is a salaried school teacher and also has income from private tuition and capital gains, which he wants to declare. Please advise.
Solution - By Amlan Dutta
+Manish Sharma , good to know that you like my work but am sad to see that you never went through it because if you had you would have answered your question yourself.
But let me still answer it , Selection of return is so that the person can depict his taxable income heads completely and taxes paid on them . For individual person , the returns to choose are from ITR 1,2,2A,,3,4,4S So individual will select the return form which will help him/her depict all income schedules that apply to him thus allowing to present to the department his scope of taxable total income Here , the individual has income contributed by 1.) salary - so, return form needs the salary schedule 2.) Private tution - if not of regular nature , can be shown under other sources ( so , other sources schedule is needed ) 3.) Capital gains - so capital gain schedule is needed ITR 2 is the simplest form having all this income schedules So , clearly therefore ITR 2 is the return form which the individual will select allowing him /her to present his entire scope of total income contributed by salary , tution ( other sources ) and capital gain schedules By - Amlan Dutta" id="vid_text">
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