My daughter is working in private company and getting monthly salary. Recently she wrote a book ( authored & published) . The income from the book selling to be declared under which section and / or which ITR appropriate. Last year she filled ITR-4 ( as she has profession income from trainings in addition to her salary). Kindly help.
If she has assigned the copyright to the publisher and receives royalty based on copies sold, such royalty income may either be taxed under Section 115BBF at a concessional rate of 10%, or alternatively, be offered to tax as professional income under Section 44ADA. In both cases, the income is taxable under the head “Profits and Gains from Business or Profession”, and the appropriate return of income to be filed would be ITR-3
1 Like
Thanks a lot for your clarity. Greatly appreciated