USHA AGRAWAL (Financial Analyst) (25 Points)
27 July 2014Hi Friends,
one of my friend got stipend during his intership of rs 12600 (14000-1400) after deducting TDS u/s 194J.
Under which head this income should be shown in ITR.
Please advise
NILA REJESH P
(Chartered Accountant)
(815 Points)
Replied 27 July 2014
Profit and Gains from Business or Prfession in ITR 4.
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 27 July 2014
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 28 July 2014
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 28 July 2014
The Income Should be grouped under Income from Other Sources
1. TDS u/s 194J is deducted only on Professional/ Technical Service.
2. Stipened Income in means amount received by a person during his Training.
Income Received during Training period doesnot qualify as Income of Professional / Technical Nature.
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