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Income Tax Filing for Freelancers

It is compulsory for every person who comes under the tax law and is eligible for paying taxes. Freelancers and consultants are the personas who have various income sources and clients. It gets a little tricky sometimes while filing income tax.

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Fill out the registration form & start the process today.

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Overview

Freelancing income refers to an income that the freelancer receives for a particular client after the submission of assignments in a particular time frame. A freelancer is neither the company’s full-time employee nor listed in the payroll system of an organization. The gross income of a freelancer will be the total of all the receipts a freelance get in the course of conducting his profession. The bank details can present the statement of their professional incomes from the different banking channels. ITR3 or ITR4 form is the application form for filing income tax for freelancers. ITR 3 form forms are needed to fill when a freelancer gets income from a business or profession. ITR 4 is a new addition to the taxation list that provides some kind of tax benefits to freelancers.

Benefits

Carry Forward Losses

Most business faces loss in the initial days of their business. It can be carried forward for many years. Filing an ITR can help in adjusting the previous losses. If a person does not file ITR, he may be deprived of the benefits.

Outline Financial Worth

An ITR outline the financial worth of the taxpayers. It increases the capital base of the person and shows their financial capacity. By filing the ITR, investors and institutions get to know about the capacity of a business.

High-Risk Cover and Loan Processing

ITR data helps process the loan. If a person has high financial worth, it makes the loan process easy. The same goes for high-risk cover insurance.

Income Tax Refund

ITR makes it easy to get a person’s refund of income tax.

Documents Required

1. PAN
2. Form-16
3. TDS certificates
4. Interest certificates from Post Offices & Banks
5. Form 26AS
6. Tax-Savings Investment Proofs
7. Home Loan statement from NBFC/Bank
8. Capital Gains
9. Aadhar Card

Process

Select Package

Your journey starts with the package selection. Our team of professionals is here to assist you & solve your doubts accordingly.

Collect the information and documentation

The team will collect the required information and documents from the taxpayers manually.

Computation process

As a next step, the team will calculate all the payable taxes based on details given by the applicant.

ITR3 form submission

An ITR3 form will be filled and submitted by the team through online mode and after that, the team will share the acknowledgement.

Why Us?

We are here to make everything easy for you. If you have any doubts about how to start with the procedure, we are here to resolve this confusion for you. We will enlighten you about what are the different criteria you must fulfill & what is the best possible way you can do everything smoothly. For convenient Income Tax Filing for Freelancers, we have a team of highly skilled professionals and a large network of people who can assist you with every service that you will need.

FAQ

What ITR-3 form is used for?
The ITR-3 form helps freelancers and consultants to file their income tax.
Who are freelancers and what is their job?
A freelancer is a self-employed person who works for themselves, not for an organization. The freelancer receives income from a particular client after the submission of assignments in a particular time frame.
Do freelancers also pay income tax?
A freelancer is a self-employed person who works for themselves, not for an organization. The freelancer receives income from a particular client after the submission of assignments in a particular time frame.
Do freelancers come under the obligation of GST?
Yes, freelancers need to pay 18 percent of their income as Goods and Services Tax.
Who are freelancers and what is their job?
A freelancer is a self-employed person who works for themselves, not for an organization. The freelancer receives income from a particular client after the submission of assignments in a particular time frame.
How can a freelancer check his income in ITR?
By visiting the official website of the income tax department, one can know the income in ITR. We support their host in providing them with information on their income tax.
Which income tax forms can be filed by the freelancers and consultants?
ITR-3 & ITR-4 are the forms under income tax that can be used by freelancers and consultants for filing income tax.
As a freelancer, how can I file an income tax return, what is the process?
We have a team of experts that help freelancers in filing their income tax returns.