Income Tax Return: How can freelancers and self-employed individuals file their ITR for FY22-23?
India ranks 3rd in the world in terms of the number of freelancers. The COVID lockdowns have played a significant role in motivating many to explore their entrepreneurial side. While some indulged in traditional businesses such as selling home cooked food, skills training, programming, designing and animation, others took to gigs such as videography, fitness training and content creation.
While being self-employed provides one the flexibility in working, the tax aspects become slightly complex when compared with a salaried taxpayer.