ITR Filing for Students & Interns
Students with internship stipends, freelance gigs or scholarship income often have TDS deducted at 10% (Section 194J) even when total income is below ₹2.5L basic exemption. Filing ITR-1 or ITR-4 refunds the entire TDS.
- Correct form: ITR-1 / ITR-4 (freelance)
- Regime: Usually below basic exemption — filing for TDS refund is the main driver.
- Reconcile AIS + 26AS before filing to avoid 143(1)(a) intimations.
- Aadhaar OTP e-verification the same day.
- Free notice defence within 12 months of filing.
Definition
44ADA
Definition
44AD
Definition
Section 44AB
Typical income mix for students
- Internship stipend (194J TDS)
- Freelance / gig income (44ADA / ITR-4)
- Bank interest
- Scholarship (Section 10(16) exempt)
- Family gifts up to ₹50k (exempt)
Deductions available
- Section 80C — LIC / PPF (₹1.5L)
- Section 80D — self health insurance
- Section 80E — education loan interest (own)
- Section 80TTA — savings interest (₹10k)
- Basic exemption ₹2.5L
Documents required
- Bank statement
- 26AS + AIS
- Stipend / freelance TDS certificate
- Scholarship award letter
- Education loan interest certificate
- PAN + Aadhaar
Common mistakes to avoid
- Not filing when TDS is deducted — refund lost
- Reporting scholarship as taxable (it is exempt under 10(16))
- Filing wrong form for freelance stipend
- Missing 194J TDS in 26AS reconciliation
- Not linking PAN with Aadhaar — refund blocked
Worked example
A Mumbai IIT intern with ₹1.8L stipend and ₹18k TDS files ITR-1 — full ₹18k refund credited in 21 days.
Students — filing snapshot
| Item | Detail |
|---|---|
| Recommended form | ITR-1 / ITR-4 (freelance) |
| Regime guidance | Usually below basic exemption — filing for TDS refund is the main driver. |
| Presumptive available | Depends on income mix |
| Audit trigger | Above threshold or below deemed profit |
| Taxpex turnaround | 24–72 hours |
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