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Under which head to show "consultant fees" received and which itr form to file?

ITR Filing 10084 views 8 replies

Mr. A has earned professional fees being "consultant fees" during FY 18-19. The applicable TDS has been deducted under section 194J and deposited.

My question is: Under which head should I show this professional fees: Income from Business and Profession or Income from Other sources?

Also, which ITR to be filed - ITR 3 or ITR 4?

Replies (8)
under the head of business and profession

if Receipts less than Rs 50,00,000/- then show 50% as income and file ITR 4.

Thank you

If you are opting for presumptive based tax, then ITR 4. Or else, ITR 3. It shall be shown under the head business and profession.

Thank you for the response.

 

Considering ITR 4 is filed, can you please guide me as to which profession code can I select for a GRAPHIC DESIGNER / AD MAKER / AD DESIGNER?

 

because I am unable to see any such drop down for profession code. Can it be considered under code 20010-Individual artist excl authors?

Last few years I am filing under presumptive income for My wife(doctor).

she received 20000 income under 194J SUN pharma  + 15000 under 194j from another pharma and reflecting in AIS for professinal services rendered.

In ITR4 do i need to choose 44AD or 44ADA ? and which Professional code i need to choose from below: 

1) 18002 - Specialtiy or super speciality hospitals

2) 18020 - Other Health care services 

3) 16019_1 - Medical profession

(or) should i file under "income from other sources" as per article: Section 194J for Professional Fees: Report Correctly in ITR 
if yes then kindly share section number?

@ Sangeeta

You can use Advertising Code 16006 in ITR-4

@ Rajmohan

Your choice number 3 is correct.


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