ITR for musician (tutoring & performing stage shows)

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This query is : Resolved

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A musician, earning income from both tutoring students and performing in stage shows (a 50-50 split), inquired about the appropriate business code and eligibility for ITR 4 under Section 44ADA. The advice given confirms that they are eligible for 44ADA. While the specific code '16019' wasn't found, the alternative '20010 Individual artists excluding authors' was deemed appropriate for their situation.

Srinivasan

Srinivasan (Querist)

09 July 2024 Hello sir/mam, please help me know my business code and whether I can opt ITR4 44ADA if I work as a music teacher full time. Streams of income are share of fees from tutoring students & performing stage shows. The ratio is 50-50 for the income streams.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 July 2024 Yes, you can opt for Sec. 44ADA IT act. Select code '16019'

Srinivasan

Srinivasan (Querist)

09 July 2024 16019 is not showing under 44ADA. Can this code be used instead - "20010 Individual artists excluding authors"? Will it be appropriate for the given scenario?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 July 2024 Yes, eligible.

Srinivasan

Srinivasan (Querist)

09 July 2024 Thank you sir for taking your time to help me out.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 July 2024

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

26 August 2024 You are welcome.