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Freelancers and consultants are subject to income tax just like salaried individuals, but their income is treated as business or professional earnings under the Income Tax Act. With multiple income streams, TDS entries, and expense claims, filing taxes  can be complex. The government’s emphasis on digital compliance and updated tax rules under Budget 2025 has made online filing platforms indispensable. AI-powered platforms like TaxBuddy  simplify ITR filing for freelancers by

Choosing the right ITR form is vital for accurate tax filing , especially for individuals earning from business or professional activities. The 2025 updates by the Income Tax Department have clarified eligibility and simplified reporting, making it easier for taxpayers to decide between ITR-3 and ITR-4 based on their income type, turnover, and record-keeping practices. Both ITR-3 and ITR-4 apply to business or professional income, but the choice depends on whether the taxpaye

Freelancers and consultants in India must navigate unique challenges while filing Income Tax Returns (ITR) for FY 2024-25. Unlike salaried employees, their income is not subject to automatic TDS, making accurate reporting, expense tracking, and timely filing essential. Choosing the correct ITR form, maintaining supporting documents, providing bank account details, and understanding deductions under both the presumptive and regular taxation schemes are key to compliance and av

Freelancers and consultants in India face unique tax challenges due to multiple income streams, varying expenses, and compliance...

Managing income from multiple sources can be challenging, especially when combining salaried and freelance earnings. Dual income filing...

Freelancers and side hustlers form a growing segment of India’s workforce, contributing significantly to the gig economy. With increasing...

Freelancing is becoming an increasingly popular career choice in India, with many professionals opting for flexible work schedules and...

Filing Income Tax Returns (ITR) is a crucial process for all taxpayers, and it becomes especially important for freelancers. However,...

Filing your Income Tax Return (ITR) as a freelancer can be a bit overwhelming, given the unique nature of freelance income and the...

Freelancers often face scrutiny from the Income Tax Department due to the nature of their variable income streams. A Section 143(3)...