Freelancer Tax Optimization

Mandatory Scrutiny of ITR: Income Tax Department Reveals Criteria for Selection
ByTeam Editorial May 24, 2024May 24, 2024

The Income Tax Department has recently unveiled detailed criteria for the mandatory scrutiny of Income Tax Returns (ITRs). These guidelines, released by the Central Board of Direct Taxes (CBDT) on May 3, 2024, specify how ITRs will be selected for close examination for the financial year 2024-25. These annual circulars have been a consistent effort…

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How do freelancers save tax?
ByTeam Editorial May 16, 2024May 16, 2024

Freelancers, the dynamic pioneers of self-employment, revel in their autonomy to choose projects and forge unique business ventures. However, amidst this entrepreneurial freedom lies the responsibility of navigating tax obligations effectively. Income earned through freelancing, a manifestation of one’s creative or professional prowess, falls under the ambit of ‘profit and gains from business and profession‘…

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