The Economic Times

Freelancers filing ITR? Don't get these 5 things wrong: Form, expenses, 44ADA, foreign income, and more

Freelancers preparing for AY 2026-27 have a new ITR submission deadline, offering relief to many. Understanding tax audit requirements is essential and varies based on turnover, with distinct reporting dates. Selecting the appropriate ITR form such as ITR-3 or ITR-4 plays a crucial role in accurately reporting income. Eligible business expenses can be claimed by freelancers, which helps minimize their tax burden, while income from foreign clients needs clear disclosure.