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Foreign income ITR

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Poonam Ramchandani

3 Points Posted on 25 July 2023

Hi,
Has anybody filed ITR of Resident with Foreign income, i have few doubts,
need help, anyone?

Replies (2)

Quick Summary

A social media marketing freelancer with foreign income is seeking advice on their Income Tax Return (ITR). They are unsure if their Chartered Accountant correctly filed ITR 3 using presumptive income under section 44AD for their $9,90,000 foreign earnings. They also have dividend income and question whether marketing services are covered under sections 44AD or 44ADA, suspecting ITR 4 might have been the appropriate form.

Nitin Kumar

3 Points Posted on 25 July 2023

I am a social media marketing Freelancer with foreign income in $. The INR amount received in my account in FY22-23 is 9,90,000. My CA has filed ITR 3 with 50% of 9.9 Lacs as presumptive income under 44AD. I also have income from dividends around 2,000. I feel my CA has filed the wrong form.

a.) It should be ITR 4 and not ITR 3 right?

b.) Is marketing covered in 44AD or 44ADA as I don't see it listed anywhere?