ITR filing deadline: Can freelancers declare earnings as business income? Tax experts explain
· livemint.com
Freelance income cannot always be reported as business income in ITR filings. Here is when earnings qualify as business income, salary, or other sources; common filing mistakes; presumptive taxation rules; and expert tips to avoid tax notices and ensure compliance before the 31 July deadline.
Due to rapid technological advancements, unconventional service delivery and data sharing, there is a rise in freelancing and the gig economy. Today, more and m...