Iam filling ITR3 for first time primarily for getting benefit of presumptive income tax under section 44ADA . I have pension income .5 Lac , Interest income 5 Lacs, STCG 1 Lac, Income from website run by me as 2.84 Lacs (from google adsense). In the Tab "P&L at item 62, pertaining to computation of presumptive income from profession under 44ADA, I I have filled "Type of business- self owned website" and under "Business code, selected 14001- software development" so that 50% income is considered for Taxation. Is this choice (business code) OK to claim presumptive income tax benefits under section 44ADA. Further I have indicated Nil in sundry debtors and sundry creditors and shown cash of Rs. 15000. I understand that since “Business code, 14001- software development" is one of the choices in the drop down box, it should be permissible for the purpose indicated above. Any opinion on this please and anything else which I need to take care.
Itr3 : business code 14001- software development for claiming presumptive income from profession
Rajan svr (DGM) (44 Points)
24 August 2019