Technical Consultants
In addition, technical consultants are also required to file an ITR if they have:
1. Total gross receipts during the financial year exceeding Rs. 50 lakhs.
2. TDS or TCS deducted in excess of Rs. 25,000.
3. Spent more than Rs. 2 lakh on foreign travel.
4. Electricity expenditure is more than Rs. 1 lakh.
Technical consultant can file ITR-3 or ITR-4, depending on their income and expenses. ITR-3 is a more detailed form that requires you to provide information about your income, deductions, and tax liability. ITR-4 is a simplify form that can be use by technical consultant who have total gross receipts not exceeding Rs. 50 lakh and expenses not exceeding 50% of their income.
The deadline for filing ITR for the assessment year 2023-24 is July 31, 2023. However, if you are a technical consultant who is subject to tax audit under section 44AB, then the last date for filing your ITR is October 31, 2023.
To visit: https://www.incometax.gov.in