I earn online from advertising, by showing ads on my websites. I am a college going student, this is my only source of income. Which ITR should I file? I am confused between ITR 4 and ITR 4S.
In my opinion, my earnings are not commissions as I sell traffic to the advertiser. So it's payment for service. And it's not a "professional" job as I am merely placing ads on websites.
You guys are the expert, please help me out.
Also, say I earned 5 lakhs. In ITR 4S, 8% of the earnings is deemed as profit. So will I have to pay tax on 8% of 5 lakhs, or on my acutal profit out of those 5 lakhs, say 4.5 lakhs?
CAclubindia
