Deducting tax
This query is : Resolved
13 November 2014
Sir,
' Am working X company , first 6 months worked as a consultants and second half appointed as employee.
First 6 months deducted Professional charges at flat rate at 10% of lumsum amount.
Second half salry consider as normal taxation workings , (ie rebate , exemption , tax limitation taking 6 month only.)
What basis i have to submit the documents like Medical bill, Travelling allowances bill, HRA , Home loan , etc., for consultancy period ??
or
what basis i have segerated the amount ?
whare i have to submit the bills ?
kindly give the guidelines, regarding consultancy for 6 month periods ?
pl. help me.
' Am working X company , first 6 months worked as a consultants and second half appointed as employee.
First 6 months deducted Professional charges at flat rate at 10% of lumsum amount.
Second half salry consider as normal taxation workings , (ie rebate , exemption , tax limitation taking 6 month only.)
What basis i have to submit the documents like Medical bill, Travelling allowances bill, HRA , Home loan , etc., for consultancy period ??
or
what basis i have segerated the amount ?
whare i have to submit the bills ?
kindly give the guidelines, regarding consultancy for 6 month periods ?
pl. help me.
13 November 2014
01.No need to submit any bills or supporting documents to anyone for the period of CONSULTANCY charges received.
02. At the time of filing the income tax return, show this income as income from profession and the one you receive as salary as income from salary.
02. At the time of filing the income tax return, show this income as income from profession and the one you receive as salary as income from salary.
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
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
