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 ?
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.
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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