You are eligible to take benefit of scheme u/s 44AD. 44ADA is applicable to specified professionals. For non-speficied professionals, 44AD is available. In your case tax liability is nil. If tds is deducted, file ITR.
Under what section I have to flle?
Hi Sir/ Madam I am a senior citizen I am working as a freelancer, writing content for several institutions from India and abroad and also working as a freelance private tutor for clients residing in India /US. My income fpr 20-21up to March 8th from freelance content work is Rs 94920.02 and from freelance online tutoring is 408662. Total income up to March 8th is INR 503582.02. I have taken medical insurance for 41000 in April 20. Can I file as a businessman/professional? Am I eligible for presumptive income? Can I file under Section 44ADA? If not under what section I have to file and what are the requirements?. What is my tax liability (if any?) Elangovan
Asked 3 years ago in Income Tax
Yes you can file taxes under presumptive taxation u/a 44ADA as professional
Dear Sir,
Hope you are doing well !!
You can take the benefit of presumptive taxation scheme u/s 44ad.
There is no tax liability as per said data.
We may assist you in entire procedure.
It is advisable to take a phone consultation for detailed discussion.
Hi
As per my understanding you are eligible under section 44AD.
1. Yes can do so.
2. Yes youare eligible for the same.
3. Tax liability will be nil.
For details discussion please have a phone consultation.
Hi
You are not eligible for 44ADA presumptive taxation scheme.
Since your Total income is less than 5 lacs, there is no tax liability.
We may assist you with ITR filing.
You can book consultation and discuss the same in detail about your work.
Prima facie you are eligible for presumptive taxation but we can discuss same in detail.
You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
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