query regarding selection of ITR form – Taxation – beragampengetahuan – Beragampengetahuan

Hey, I’ve started earning this year in July 2023 and this will be my first time paying taxes.
As per my income, I need to pay advance taxes and the due date was 15th December. I missed that somehow.

My query is following:

• My work is on a contract basis with a foreign company so considering myself a freelancer I should go with ITR4 but I also hold some stocks and invest each month a part of my income in MF.

Below is my tax PnL from zerodha dashboard.

Below is my P&L from zerodha.

Apart from this, I’ve received a total dividend of Rs. 247 from my shares and I’ll mention those in income from other sources.

Other than this, I have not done any selling at all in this financial year. So, considering I’ve not realized the profit, I think I can go with ITR4.

Please let me know if something is wrong here or If I should switch my ITR because I hold some stocks.

You are right. ITR4 is correct.

Hello @kmmon,

As correctly mentioned by @pothi, you can file ITR4 for the freelancing income earned by you. However, if you sell some shares, then you need to file ITR3.

For presumptive taxation, there is only one advance tax instalment applicable i.e. 15th March. So, you need to pay 100% of your advance tax on or before 15th March.

Hope this helps!