Claiming Section 44ADA Deduction: Business Code Guide

This query is : Resolved

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This discussion helps a content writer understand which business code to use in ITR 4 for claiming deductions under Section 44ADA. While TDS was deducted under Section 194JB, the user needs the correct code for professional income under the presumptive assessment scheme. Several codes are suggested, including 16019, 16001/5, 14010, and 20011, with advice on selecting the most appropriate one for content writing.

narayan

narayan (Querist)
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24 June 2022 i am a content writer on contract ( annual / sustainability reports ) and tds has been deducted under section 194JB. what shuld i fill in under the following heads appearing in form ITR 4 , for claiming deduction under section 44ADA

Name of business
Business Code
Description

thanks
narayanan

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 July 2022 Other professional services n.e.c. ...... 16019

narayan

narayan (Querist)
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08 July 2022 THANKS FOR UR REPLY.
This code is for business income . I NEED CODE UNDER PROFESSIONAL INCOME UNDER SECTION 44 ADA

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 July 2022 That is the most suitable code. Still check if 16001/5 or 14010 suits you.
Secondly, you can declare 50% or more profit with the said code.

narayan

narayan (Querist)
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08 July 2022 Thanks
But I am referring to sec 44ADA PROFESSIONAL INCOME AND not business income where I need not maintain books and declare 50 % as income

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 July 2022 Yes, it will be accepted under presumptive assessment u/s. 44ADA, when proper code is not available.

narayan

narayan (Querist)
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09 July 2022 Thanks
Can I use code 20011- literary activities for content writing

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 July 2022 In that case go for 16018..

narayan

narayan (Querist)
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09 July 2022 Thnks
Will 20011 look more appropriate since it involves writing