Where to show freelancing income

Hi,

I want to know where to show freelancing income Whether to show in itr3 or itr4 as a professional income 

Or to show in itr 1 income under head other source 

Assuming tds has been deducted u/s 194j.

If I opt for itr 4 then can I opt out in next assessment year to opt for itr 3

Replies (4)
Quick Summary
This discussion clarifies where to declare freelancing income for tax purposes. It explains that freelancing income is taxable under 'profits or gains from business or profession', meaning ITR-1 cannot be used. You must choose between ITR-3 or ITR-4. The thread also confirms that opting for ITR-4 in one year does not prevent you from choosing ITR-3 in a subsequent year. Specific advice is sought regarding business codes for content writers.

I think it is covered under income from profession as u get work on contractual basis and then get paid for it but confirm from others

Freelancing income is taxable under the head income under the head profits or gains from business or profession. So, you cannot file ITR -1, So, you have to file either ITR-3 or ITR-4.

If you opt for ITR 4 for current assessment year then you can opt out for ITR-3 in the next assessment year

What is your Profession from which you derive freelancing income ?

Which business code will apply for content writer's. Should I file itr 4 and select 16019 business code which applies for other professional services. 

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