Itr3 : business code 14001- software development for claiming presumptive income from profession

Rajan svr (DGM) (39 Points)

24 August 2019  

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.