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Let’s take a look at the expenses that you can deduct as a tutor from your income. Deduct these expenses which are directly related to your tutoring work from the income you earn –
So from your Gross Income from Tutoring you can reduce the Expenses which are listed above and this will give you your Net Income. This is the income you’ll offer to tax. This is the income of your Freelancing work of tuitions. Want to understand in detail about Taxes for a Freelancer – read our very detailed guide here. Wait until our next post to understand how much tax you need to pay and how to claim deductions and save tax. Write to us support@cleartax.in if you have any questions! See you soon!
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Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
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