Itr 4s filing

This discussion clarifies whether contract employees working in software development are eligible to file ITR 4 using presumptive taxation schemes like Section 44ADA. It confirms that contract employees can indeed file ITR 4 under Section 44ADA, calculating profits at 50% of gross receipts. The rebate under Section 87A for FY 19-20 (AY 2020-21) is also explained, stating it's £12,500 if total income is below £500,000.