Fucked my brains on ITR
Quicko and IT portal have different tax due amounts. I have small amount from freelance (apart from salary), if adding under 44ADA they want balance sheet I started with old regime (1.5L +10k +50k deduction) and now considering if new regime works better IT portal says I owe more than 2 months of my salary as tax My brain is tired and still haven't paid the tax
Ask CA better. Btw is this first time u r using 44ada ? Is ur freelance income in inr or usd ?
Karilyn Carmden
Stealth
a year ago
Income nahi hai jitna CA will ask.
Yep for first time. INR income
CA can file it for 2-3k which is much better than taking risk for filling wrongly.
In 44ADA, you wouldn't need to show any accounting or balance sheet. Just the gross amount and 50% or higher whatever you think is good as profits.
It is possible that Quicko might be automatically showing you tax due from the regime that has a lower tax due amount for you.
In the IT portal, you have to select the regime explicitly and it will show the tax calculation based on the selection.
Kendall Lee
Stealth
a year ago
Quicko regime change is showing 8k difference. But actual tax liability has difference of 30k, which is worrisome.
Also the freelance amounts, IT is not asking for balance sheet. Quicko is.
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Isaiah Vernon
Stealth
a year ago
Get a CA do it for you.. won’t cost you more than 2-3k. Why break your head over it
If there's some way to dm, I know a CA he'll do in 1500, can share his contact info.
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