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Casual Income

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(Querist)
16 April 2009 My Client received salary from contract basis, deduct T.D.S @ 10%. This type of income which head consider ?
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CA CS CMA Srinivasan N

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CA CS CMA Srinivasan N (Expert)
16 April 2009 Hi
Please check the arrangements with company...It must be of Retainer ship basis. In that case the Income falls under Sec.194J - Professional Charges and accordingly the TDS is deducted @10% plus cess.
This income to be considered as Business Income for returns.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
16 April 2009 THis shall be trated as business income or income from other sources(if it is on occasional basis).
TDS shall be deductd @ 10% u/s 194J




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