11 November 2021
hello expert recently i filed my first itr and i made some mistake plz help 1. i am a freelancer helping people with accounting and consulting in filing for pan and linking process for which my GReceipts where 92000 and profit was 65000 cash 10400 i foolishly filled itr 4 under section 44 ada in under profession of accountancy with no current account i am an mcom graguate 2. i dont think i will be continuing my profession as i have joined a job and have no ffree time. 3 i know opting out of itr 4 or 3 i will lose the presumptive scheme for 5 years which i dont think i should lose
i am also scared of getting a notice from IT and have not slept for 2 days of scare
my main reason for filing itr this year is to show my freelance income as i have applied for TA exam in which i put PGBP as my employment i think i want to show my income in other souces as freelance and not claim benefit of 44ad or ada but as i have filed my income tax can an expert help me in this mess plz plz plz help
11 November 2021
1 When you have already filed return, no need to change or to get worried, as it is not adversary. 2. If you wish you may change it to ITR 3, you will not loose the 5 year benefit, as you have filed it under sec. 44ADA, which is not binding as sec. 44AD.