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I want to know for a person who is video editor in a company and works on contract with the company, his tds is deducted monthly. Which ITR form will be applicable to him. Whether ITR 4S or ITR 4. Whether he can show the expenses and lower the income from gross receipts and pay tax on that.
Replies (2)
TDS deducted under which head? Yes, you can deduct all the expenditures for earning the said income. Better go for ITR 4, if TDs deducted u/s. 194J
Generally in freelancing work tds is deducted u/s 194J. If this is the case you need to file itr-4 and you can claim deduction of expenditure incurred for earning that income.
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