Income tax for like Freelancer income 16lakhs coming from Manager personal account from Usa in inr

Income Tax Income from Business or Profession
1

Hello

I am a resident of India providing remote Analyst and accounting services to a U.S.-based Trucking company. My payments are received in my Indian bank account via personal transfer from the client’s manager.

Income 1Lakh per month
Total income 16Lakh year
Divident income 2500 inr
80 D health Insurance 6000 inr

How to fill itr

Thanks

2

Hey @Singh

Let me answer to your queries one by one:-

  1. If you earn business or professional income, you can file ITR-3 or choose ITR-4 if you’re opting for presumptive taxation under Section 44ADA.

  2. Dividend of ₹2,500 should be reported under “Income from Other Sources”.

  3. Health insurance premium of ₹6,000 can be claimed only under old regime.

You can refer to this post to know more details about ITR form selection for AY 2025-26.

Let me know if you have any other questions!