For contractors offering services and reporting income under Section 44AD, the business code commonly used in ITR-3 is 06010 for Other Construction Activities NEC. Income can be declared at 8% under presumptive taxation if eligible.
18 June 2023
I need to know business code for Contractors. One of my friend did contract for a software company and company deducted Tax u/s 194C.Now he wants to show the amount received Under 44AD at 8% as profit. Please let me know the business code to be filled in ITR-3 form as he is also having LT capital gains and salary.