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Freelancer in IT: 44AD or 44ADA for FY 23-24?

Samkit

Samkit Maniar  | Answer  |Ask -

Tax Expert - Answered on Jul 25, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Asked by Anonymous - Jul 02, 2024Hindi
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Hi Samkit, I have a question for you. I am freelancer (IT sector) and having contract with foreign customers. At the time of filling return for FY 23-24, what should I opt for? under section 44AD or section 44ADA. Thanks

Ans: Section 44AD applies to businesses except for professional services whereas section 44ADA is exclusively for specified professionals. Considering you are a freelancer you are more likely to fall under section 44ADA.

Please consult your CA before moving ahead.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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I got 98.5 percentile and 23746 rank in jee main 2026 .I want to get a high salary and high growing job in future . I get non cse branch like ece,er in nit jamshedpur bhopal, allhabad and also get cs branch in lower nit . which do i choose? Where I get a good placement in future
Ans: Sekhar, At CRL 23,746 with 98.5 percentile, the best decision should be based on long-term salary growth and career flexibility. For high salary and future-ready careers, generally CSE/IT is preferred over ECE, and ECE is preferred over Electrical, but a strong NIT brand can be better than taking CSE in a much weaker lower NIT. Motilal Nehru National Institute of Technology Allahabad has very strong placement momentum, with CSE average packages reported around ?28 LPA and major recruiters like Microsoft, Goldman Sachs, Oracle, PhonePe and Qualcomm regularly hiring. Maulana Azad National Institute of Technology Bhopal and National Institute of Technology Jamshedpur also have strong placement records and good recruiter presence. My strict order of preference would be MNNIT Allahabad ECE first, followed by MANIT Bhopal ECE, then NIT Jamshedpur ECE, followed by MNNIT or MANIT Electrical, and only after that CSE in a lower NIT if that institute has strong coding culture and recruiter access. NIT Jamshedpur Electrical should come after these options. My final recommendation is to prefer ECE at MNNIT Allahabad or MANIT Bhopal over CSE in a much lower NIT because it offers stronger brand value, better placement quality, coding opportunities, semiconductor and VLSI career options, and better long-term growth for both core and software roles. ALL the BEST for Your Prosperous Future!

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