• Freelancers ITR3 or ITR4

Hi,

I am earning an average of 2.5 to 5 LPA. 
And most of the time I don't have proofs of the income as working on freelancing website or direct calls contact. Which ITR should I fill.

Last year I filled ITR 4.
Asked 1 year ago in Income Tax

Submit ITR 4

Swapnil Jain
CA, Kolkata
15 Answers

Not rated

Consultancy business

Swapnil Jain
CA, Kolkata
15 Answers

Not rated

You must file income as business income and ITR 4.

 

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Naman Maloo
CA, Jaipur
3766 Answers
44 Consultations

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

You need to mention the income under the head income from business/profession.

 

 

 

Payal Chhajed
CA, Mumbai
5039 Answers
137 Consultations

5.0 on 5.0

You need to file ITR 4.

Payal Chhajed
CA, Mumbai
5039 Answers
137 Consultations

5.0 on 5.0

Hello,

 

ITR-4 should be filed.

I hope this answer satisfies your requirement.

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2544 Answers
9 Consultations

5.0 on 5.0

You will have to select the appropriate code related to your profession from the list of nature of business/profession specified in ITR-4.

Hunny Badlani
CA, Madhya Pradesh
2544 Answers
9 Consultations

5.0 on 5.0

- What is the nature of your freelancing? Based on the nature, you can opt for 44AD or 44ADA.

- Submit ITR-4

- Please take phone consultation for deep understanding.

Vivek Kumar Arora
CA, Delhi
3986 Answers
312 Consultations

5.0 on 5.0

what kind of work do you perform? if you perform work like software development,  (professions eligible under 44AA), then you can file ITR 4 and use presumptive taxation scheme (44ADA) wherein you can directly show 50% of your gross receipts as profit and pay tax on it.

Lakshita Bhandari
CA, Mumbai
5403 Answers
487 Consultations

5.0 on 5.0

Hello Sir,

 

You should file ITR 4 and take the benefit of presumptive taxation scheme u/s 44ad/44ada.

Karishma Chhajer
CA, Jodhpur
2353 Answers
19 Consultations

5.0 on 5.0

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