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
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
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.
CAclubindia
