Consultancy services
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2015
A person namely Vinay who is a part time tutor of an Online Academic Paltform (OAP) giving his PAN no. for recieving the fees from OAP.
With passage of time, he is employed in Morgan Stanley as a salaried prson with package of Rs. 10 lakh. so with increased workload he outsources his work to his friend Ajay for providing online tution clases on behalf of vinay . Vinay hides such endorsement from OAP and OAP gives respective fees to Vinay only.
Vinay after recieving such amount after tds keeps with hmself 5 % as comission and remit the remaining balance to Ajay.
Vinay at the year end prepare his computation including the net amount recieved from Morgan Stanley After tds deducted plus amount from OAP (small amt as a part time tutor).
My QUES. is
(1) Find a way in which manner Vinay will Remit the amount recieved from OAP (OAP give fees to Vinay for his work done which is actualy being done by Ajay) to Ajay for his work done as he is not a legal tutor registered with OAP.
(2) whether tax @ 30% will be deducted from the whole income of Vinay(morgan stanley+OAP) including the one recieved from OAP or it will not be considered for computing tax as tds being deducted.
With passage of time, he is employed in Morgan Stanley as a salaried prson with package of Rs. 10 lakh. so with increased workload he outsources his work to his friend Ajay for providing online tution clases on behalf of vinay . Vinay hides such endorsement from OAP and OAP gives respective fees to Vinay only.
Vinay after recieving such amount after tds keeps with hmself 5 % as comission and remit the remaining balance to Ajay.
Vinay at the year end prepare his computation including the net amount recieved from Morgan Stanley After tds deducted plus amount from OAP (small amt as a part time tutor).
My QUES. is
(1) Find a way in which manner Vinay will Remit the amount recieved from OAP (OAP give fees to Vinay for his work done which is actualy being done by Ajay) to Ajay for his work done as he is not a legal tutor registered with OAP.
(2) whether tax @ 30% will be deducted from the whole income of Vinay(morgan stanley+OAP) including the one recieved from OAP or it will not be considered for computing tax as tds being deducted.
15 June 2015
In my opinion viney should give amount to ajay in cash only. as ajay is not legal tutor registered & any payment made through the banking channels would anytime may crate the problem between Viney & OAP.
The tax on Stanley & OAP would be deducted as per slab rate & not @30% flat.
the fees received from OAP is not the business income it is the professional fees.
The tax on Stanley & OAP would be deducted as per slab rate & not @30% flat.
the fees received from OAP is not the business income it is the professional fees.
16 June 2015
they can make agreement in that they mention that what amount Vijay get and make by cheque and its may employee or professional services tds u/s 192 or 194J
16 June 2015
they can make agreement in that they mention that what amount Vijay get and make by cheque and its may employee or professional services tds u/s 192 or 194J
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- Specified Profession
- GST ON DAMAGED GOODS
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
