Income Tax Filing For Freelancer

Starting From ₹ 7,999

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    About Income Tax Return For Freelancers

    Freelancing income comes into the picture when you get hired to work on precise assignments for a precise term and get paid for the work upon completion and submission. A freelancer is not an employee of the company or placed on its payroll. Their gross income will be the sum of all receipts they get in the method of carrying out their profession. Their bank account statement is a document you can depend on to cull out this information, provided that they have obtained all their professional income through banking channels.
    The income tax form that freelancers require to fill out and submit is either ITR-3 or ITR-4. ITR-3 applies to income from business or profession. From AY 2017-18 (FY 2016-17), professionals can opt for presumptive taxation and claim 50% of their gross tokens as their income by filing ITR-4.

    Advantages of ITR For Freelancer

    Allows carry forward of losses

    During The First Few Years Of A Business, Most Businesses Suffer Losses. The ITR Can Be Filed To Carry Forward Business Losses Or Capital Losses For Up To Eight Years. As Well As Being Able To Adjust This Loss Against Future Income, It Can Also Be Used To Lower Taxable Income In The Future. If ITR Is Not Filed, The Taxpayer Is Denied This Benefit.

    Define financial worth

    The ITR Filed With The Government Specifies The Financial Worth Of The Taxpayer. The Track Of ITR Shows The Financial Capacity And Also Raises The Capital Base Of A Person. Hence, The Track Of Income And Financial Worth Is Determined By The Previously Filed ITR. Investors And Institutions Look Ahead To Returns Filed To Understand The Capacity Of The Business.

    Loan Processing and high-risk cover

    The Numbers And The Capital Base Specified By The Income Tax Return Are Helpful For Loan Processing. The Higher The Financial Worth, The Easier It Is To Process The Loan. The Same Is True For High-Risk Insurance. The ITR Is A Significant Document For Making Decisions In This Regard.

    Income tax refund

    Filing Tax Returns Is Not Just Done To Fulfill The Moral And Social Responsibility Of Every Citizen Of The Nation. If You Want To Claim An Income Tax Refund, Filing Of Income Tax Return Becomes Compulsory.

    Income Tax Return for Freelancers Process Flow

    1-2 HOURS

    Select Package
    Fill Out The Appropriate Forms Or Speak To Our Experts Online For Assistance.


    Obtain Information and Documents
    We Will Collect The Information And Needed Documents From The Taxpayer Manually.


    Computation Of Payable Income Tax
    We Will Compute The Payable Tax Based On The Information Given By The Applicant.


    Submission Of ITR3 Form
    We Will Fill Out The ITR3 Form Online As Per Your Income And Will Share Its Acknowledgment.


    Check Application Status
    Throughout The Process, We Will Keep You Informed About The Status Of Your Application.

    Documents required for income tax filing for freelancer

    pricing packages

    Basic Package

    ₹ 7,999

    Growth Package

    ₹ 11,999


    ₹ 14,999 (increase in case of tax audit required)


    Comparison Basis Private limited company Llp Sole proprietor
    Raising Fund
    Start-Up India Recognition
    Complince Cost
    Suited For Growing Startup Service Provider Small Business
    Taxation Benefit


    The General due date for filing income tax return by the assessee requiring tax audit is 30th September of the relevant financial year.

    ITR-3 must be filed by individuals and HUFs who have income from carrying on a profession or from a Proprietary business.

    If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such a case, he is required to file ITR 2.

    XML is a type of file format. Income details entered in the XML file get easily auto-entered in the online Form ITR-4

    • A return can be revised u/s 139(5) before processing by the department or before the expiry of the applicable assessment year whichever is earlier.
    • While uploading the original return if the assessee failed to disclose any income or claim any deduction or he likes to change the particulars of the ITR he can do revision in his ITR by uploading the fixed return.

    Yes, as per the latest government announcement, all business units and taxpayers are obliged to give their Aadhar number while filing income tax returns and also when applying for a new Permanent Account Number (PAN). Further, the taxpayers are needed to link their PAN numbers with Aadhar numbers and on a strict basis, the PAN cards which are not connected to the Aadhar Numbers will be considered invalid.

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