Freelancer Tax

Tax planning 269 views 1 replies

Hi Members,

I have filed my ITR for FY 2020-2021.

Since 1 September 2021 I am working as a freelancer. Prior to that I was working full time at one company.

I am interested in paying Advance tax (Presumptive tax ) under section 44ADA.

1. From April 2021 to August 2021 I had a full time job. Which ITR should I choose ?

2. Can someone guide what are the dates for paying Advance tax ?

3. Am i eligible for paying advance tax under Section 44ADA ?

4. Consider an example lets say i have gross receipts of 1.5 LPA per month starting from September 2021 to March 2022. How much tax should i need to pay ?

Replies (1)

1) you may use itr4 if you opt for 44ada

2) advance tax to be paid by 15th March 2022

3) Yes, if you have taxable income

4) consider 50% of professional income, add salary and other income if any and compute tax. You may use tax calculator on the IT portal to compute tax payable.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details