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Itr on royalties income

Tax queries 343 views 1 replies

Hi,

I'm an individual tax payer. I have a query about tax on royalty income generated from foreign countries.I need to know what ITR form I would have to fill to show my royalty income as an individual (Self-Business) that is being generated form foreign countries.

I heard about a presumptive taxation scheme of section 44AD where a person can show his/her income tax return at any percentage above 8% and there is no necessary to maintain balance sheet and tally records in the individual case.

Is royalty income comes under this section 44AD if yes what ITR form I have to submit?   

Any response would be greatly appreciated. 

Thank You,

Jeetu

Replies (1)

"Is royalty income comes under this section 44AD?"

CLEARLY NO.

File ITR 4


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