CCI Online Learning
50% OFF in CA/CS/CMA Subjects
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Where to show freelancing income


Rohit Kalra   25 September 2020

Rohit Kalra

 2 likes  26 points

| My Other Post

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

avater

Aditi Kaur (Practising CA)    26 September 2020

CCI Online Learning offers a library of courses for CA/CS/CMA Aspirants from the best faculties in India. Our top notch courses aim to make your journey from a student to a professional, a successful one. To promise a successful career as a professional CCI Online Learning also offers programs like Financial Modeling, MS Excel, IFRS/IND AS Certification Courses that will help you take your career to the next level. Check out the free demo videos here https://www.caclubindia.com/coaching/


avater

Taha (T)     26 September 2020

Taha
T 
 16 likes  403 points

View Profile | My Other Post

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

avater

kushwanth avsr (.)     26 September 2020

kushwanth avsr
. 
 22 likes  849 points

View Profile | My Other Post

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

avater

Sagar Patel (Tax and Business Consultant)     27 September 2020

Sagar Patel
Tax and Business Consultant 
 983 likes  11081 points

View Profile | My Other Post

What is your Profession from which you derive freelancing income ?

avater

Rohit Kalra   03 October 2020

Rohit Kalra

 2 likes  26 points

View Profile | My Other Post

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. 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »



Trending Tags
GST Live Class    |    x