Income tax clarification under “Profits & Gains from Business and Professions”

Regularly, I follow your website’s “Questions & Answers” blog and benefitted a lot which is knowledge-enhancing.  I am a salaried person.  If I do also freelance work in Animation & Graphic Designing for 2-3 months only during a FY not as a “Professional” but as an Amateur and earn around 1,00,000/-. If my client also deducts TDS from my Fees payments u/s. 194J and remitted to the IT deptt. Kindly clarify the following points :- Whether my receipts from freelancing comes under “Specified Professions” u/s. 44AA ? Which ITR form should I file, ITR-3 or ITR-4 ? What will be…

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  Outstanding loan has not repaid as the name of the Company was strike of by the ROC , Whether the Assessing Officer can make addition u/s 41 (a) of the Act ?

HUF had taken loan from a company in which Karta is Director. The name of this company was automatically strike of by the ROC i.e. Closed. Now, the HUF cannot pay the loan as the company has been closed. HUF has received show cause notice for A.Y. 2018-19 why loan amount outstanding may not be added to your income u/s 41(a). HUF is ready to pay loan amount how to deal with this problem and case law may please be given. We seek your guidance.

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