Business code under section 44 ada
This query is : Resolved
24 June 2022
i am a content writer on contract ( annual / sustainability reports ) and tds has been deducted under section 194JB. what shuld i fill in under the following heads appearing in form ITR 4 , for claiming deduction under section 44ADA
Name of business
Business Code
Description
thanks
narayanan
Name of business
Business Code
Description
thanks
narayanan
08 July 2022
Other professional services n.e.c. ...... 16019
08 July 2022
THANKS FOR UR REPLY.
This code is for business income . I NEED CODE UNDER PROFESSIONAL INCOME UNDER SECTION 44 ADA
This code is for business income . I NEED CODE UNDER PROFESSIONAL INCOME UNDER SECTION 44 ADA
08 July 2022
That is the most suitable code. Still check if 16001/5 or 14010 suits you.
Secondly, you can declare 50% or more profit with the said code.
Secondly, you can declare 50% or more profit with the said code.
08 July 2022
Thanks
But I am referring to sec 44ADA PROFESSIONAL INCOME AND not business income where I need not maintain books and declare 50 % as income
But I am referring to sec 44ADA PROFESSIONAL INCOME AND not business income where I need not maintain books and declare 50 % as income
08 July 2022
Yes, it will be accepted under presumptive assessment u/s. 44ADA, when proper code is not available.
09 July 2022
Thanks
Can I use code 20011- literary activities for content writing
Can I use code 20011- literary activities for content writing
09 July 2022
In that case go for 16018..
09 July 2022
Thnks
Will 20011 look more appropriate since it involves writing
Will 20011 look more appropriate since it involves writing
09 July 2022
That is for social or cultural activity, while 16018 is for business purpose. You may choose 20011 if it suits you.
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