Income Tax Return for AY 2020-21: Here is what freelancers should know about filing ITR return Compared to salaried individuals, income tax rules are slightly different for consultants or freelancers.

As a freelancer or a professional, you can pay tax on the estimated income. This can be done using the Presumptive Taxation Scheme under section 44ADA of the Income Tax Act.

It may be noted that more than 4.54 crore Income Tax Returns for AY 2020-21 had already been filed till 29th of December, 2020, particularly as taxpayers feared that the ITR filing deadline may ...

Form ITR 1, popularly known as Sahaj, is used by a majority of tax payers for filing their income tax return. Here is a look at who can file this form and who can't.

Pixabay pic. The Income Tax Department has confirmed that as many as 3.97 crore taxpayers have already filed their income tax returns for assessment year (AY) 2020-21 (fiscal year 2019-20) till ...

The Income Tax department of India specifies a few conditions where an individual cannot use ITR1 to file his or her income tax. ITR 1 form also known as Sahaj is mainly for salaried individuals ...

Now it has realised that it forgot to declare certain long-term gains of assessment year 2020-21. This income, now to be shown under capital gains, is less than the carried forward losses.

Income Tax India reminded taxpayers that last date to file Income Tax for 2020-21 is March 31, failing which it will draw penalty. "Late fee as per Income Tax Act may apply. Smart Bano File Karo," it ...

The Income Tax Department has said that over 4.2 crore income tax returns (ITR) have been filed so far for the assessment year (AY) 2020-21.A tweet by the IT Department said that as of December 26 ...