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retinership & consultancy

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(Querist)
30 April 2014 Kindly clarify the terms, condition, taxation etc,. of Retinership service and consultancy service.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
30 April 2014 Retainership like a monthly contract for the specific period. contract contains the minimum work during the month and minimum visit to the client place etc,

Other consultancy is nature of one time or one specific job or assignment, once finished that will be over,

under taxation, both are taxed under professional income only
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