ITR 4 business code for graphics artist.

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Graphic artists are seeking the correct business code for their Income Tax Return (ITR) 4 filings, as the previously used code 16019 is no longer applicable. After some confusion, it's suggested to use income code 16005 under Section 44ADA, or potentially file under Section 44AD while declaring 50% profit. This guidance aims to help freelance artists navigate the ITR filing process accurately.

upendra chaudhary

upendra chaudhary (Querist)
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18 July 2024 trying to find TR 4 business code for graphics artist. but not able to find.. business code 16019 not available anymore.. its become medical profession... I'm really confused. please help.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 July 2024 Use income code 16005 u/s 44ADA.

upendra chaudhary

upendra chaudhary (Querist)
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19 July 2024 Hello sir thankyou for reply.. 16019 is referring engineer and consultancy .. but I’m a freelance artist and provide my services.. I just saw 16019( other professional services n.e.c.) shifted to 44ad. So should I file 44ad ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 July 2024 Yes, but show 50% profit under 44AD.

upendra chaudhary

upendra chaudhary (Querist)
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19 July 2024 Thankyou sir for your help !

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