FREELANCING INCOME TAX TREATMENT


This query is : Resolved 

Quick Summary
This discussion clarifies the tax treatment for freelancing income, particularly when received under professional receipts (Sections 194J & 194O). It explains that income from specified professions cannot be declared under Section 44AD. Instead, such income is eligible for declaration under Section 44ADA of the Income Tax Act.

05 July 2024 DEAR SIR,

ONE OF MY CLIENT HAINVG INCOME FROM FREELANCING INCOME UNDER PROFESSIONAL RECEIPTS IN AIS /TIS (SECTION 194J & 194O) CAN I CLAIM THIS INCOME UNDER 44AD SCHEME OR NOT.

05 July 2024 Any income from specified professions cannot be declared u/s. 44AD IT act.

28 August 2024 You can declare specified profession income u/s. 44ADA IT act.


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