Income from lecturing as visiting faculty - what ITR to file for AY 2020-21?

Hi Sanjit

Assuming the income is less than INR. 2 crores, for you, ITR 4 tax return (presumptive income) will be most suitable. This return is preferable when you don't maintain books and cannot calculate annual net income (income less expenses).

Technically, you just have to consider 50% of the amount received in teaching services as your taxable income. Rest will be reflected under income from other sources in same form. 

believe 44ADA eligibility is for

• Interior decorations
• Technical consulting
• Engineering
• Accounting
• Legal
• Medical
• Architecture
• Other professionals, as mentioned below:

  WHICH OF THE ABOVE CATEGORIES WOULD I FIT WITHIN IN ORDER TO CLAIM PRESUMPTIVE INCOME?

Hi Manzil,

The new ITR Portal only has few options for business code in drop down for 44ADA section, none of which apply for adjunct faculty in social or environmental sciences.

Any advice?

Code 16019 - Other Professional Services n.e.c. is not available under drop down menu of 44ADA in the new ITR portal. Alternatively can ITR 3 or ITR 4 (as the case may be) be filed u/s 44AD with showing 50% income of gross receipt for lecturing as Visiting Faculty in business and profession