Deducting tax
This query is : Resolved
S. Devi jegatha
(Querist)
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.
Amol S Joglekar
(Expert)
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.
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