Nature of business 44ADA

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An individual earned income by resolving accounting doubts for a homework help company, with TDS deducted under Section 194J. They are seeking clarification on the correct 'nature of business' code for their ITR-4 filing, specifically questioning if code 16002, typically for professional work, applies to their academic accounting activities. The advice given is that since the work is professional in nature, the code remains the same.

Harsh

Harsh (Querist)
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05 October 2021 I have earned income for solving accounting subject doubts for a homework help company. TDS under 194J has been deducted. Please tell me the nature of business to be selected in ITR-4.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 October 2021 '16002'

Harsh

Harsh (Querist)
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05 October 2021 Sir, are you sure that it is 16002? I am asking because I am not practicing accounting profession. I am doing academic accounting work.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 October 2021 The code is for the professional work which you are doing. So, the code remains same...

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