Hi,
I am a freelancer with meager income (~ 4 lacs).
I also have some expenses like internet bills, bills from sub contractors etc.
Can i reduce my taxble income by deducting these expenses ? Which ITR form should i use to file my return ?
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Which itr form
Replies (3)
Dear Khushi,
It will be ITR 4, since it will be Income from Business and Profession
you need to file itr 4 and you can claim deduction of your expenses and only net income will be taxable.
You required to file ITR 4 Income from profession and you can claim you expenses as deduction from your gross recipt and net income will be taxable.
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