Tax guide
Tax Filing Guide for Freelancers
Complete guide for freelancers and consultants on income reporting, expenses, advance tax, and ITR filing.
- freelancer
- consultant
- ITR-4
- presumptive
Track Your Income
Maintain records of all freelance income.
- Keep copies of all invoices issued
- Track payments received (date, amount, client)
- Note TDS deducted by clients
- Maintain separate bank account (recommended)
- Track international payments and exchange rates
Document Business Expenses
Keep records of all legitimate business expenses.
- Internet and phone bills
- Computer and equipment purchases
- Software and tool subscriptions
- Co-working space / home office expenses
- Professional development and courses
Choose Taxation Scheme
Select between regular and presumptive taxation.
- Regular: Actual profit (Income - Expenses)
- Presumptive 44ADA: 50% of gross receipts as profit
- Presumptive limit: ₹75 lakh (₹50L if cash > 5%)
- No expense documentation needed for presumptive
Pay Advance Tax
Quarterly advance tax payments if tax > ₹10,000.
- June 15: 15% of estimated tax
- September 15: 45% of estimated tax
- December 15: 75% of estimated tax
- March 15: 100% of estimated tax