New Delhi, Aug. 23 -- There are many cases where salaried employees operate a side business to earn some additional income alongside their regular 9-5 job. While having a second source of income is allowed in most cases, employees need to ensure that this income is properly reported while filing their income tax return.

The deadline by which you need to file your ITR depends on the nature and amount of your income. Meanwhile, the applicable ITR form will also depend on whether you are opting for the presumptive taxation scheme.

If the side hustle is carried out regularly with the intention of earning income, it may qualify as business or professional income and would generally be reported under "Profits and Gains from Business or Profes...