Itr to be used for freelancing and internet activities

ITR 3726 views 2 replies

Which ITR has to be used for filing returns if in the financial year one has:

1) no income from salary

2) one home loan

3) income from savings account interest

4) income from Internet (like, income from blogs and selling websites for profit after developing them)

Earlier, I used to be an employee so always used ITR-1 for filing. For the first time, in this financial year I've been working independently from home, so it's confusing. I don't have any form of registered business or company.

As part of my work, I had incurred expenses like buying websites, buying web hosting, required tools, etc. I paid for all the expenses and got paid through my SB account (both in rupees and dollars).

Please help. Thanks.

Replies (2)
You may file ITR-4.

Thanks for the information. I checked a sample ITR4 and found it's very complex and confusing.

Are there any tax-related service providers online that help freelancers like I'm - who are neither salaried nor have a registered business - file the returns?

 

As I wrote in my original post, my kind of work often involves paying and receiving funds in foreign exchange, so for this kind of profession, is it really advisable to register a Proprietorship/OPC or whatever and maintain separate accounts, PAN, etc?

 

Will look forward to your advice and suggestions. Thanks again.


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