ITR-1 & ITR-4 can be file in same AY

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This query is : Resolved

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This discussion clarifies that an individual cannot file both ITR-1 and ITR-4 for the same Financial Year. If you have both salary income and income from freelancing or business, you must file ITR-4 and include your salary income under the appropriate head. It also confirms that journalists working from home and writing for media are eligible for presumptive taxation under Section 44ADA, with a 50% income offer on their professional receipts.

Raghu PM

Raghu PM (Querist)

06 November 2020 Hi Sir,

My friend working as freelancer from last six month and before that he was an salaried employee for six month for the same FY, so he can file ITR-1 or ITR-4 or both he has to file....? please confirm sir, he is having Form-16 for 1st 6 months.

Regards
Raghu PM

Gokul Sharma

Gokul Sharma (Expert)

06 November 2020 NO YOU HAVE TO FILE ITR 4 ONLY ......YOU SHOULD HAVE TO ADD YOUR SALARY INCOME IN YOUR INCOME FROM SALARY HEAD...........

IT IS NOT POSSIBLE TO FILE BOTH THE RETURNS.

Raghu PM

Raghu PM (Querist)

11 November 2020 Sir please let us know which code is applicable for Journalist, she is working from home and writing books to the media, I should select 44AD or 44ADA and what is the code for that..?

Gokul Sharma

Gokul Sharma (Expert)

11 November 2020 Under presumptive taxation you need to offer 50% as income on your professional receipts. Yes, you are eligible for presumptive taxation u/s 44ADA. Because Journalist is a professional covered u/s 44ADA.

Raghu PM

Raghu PM (Querist)

11 November 2020 Sir but Journalist will comes under which Business Code..?

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