Difference between salaried and full time consultant
This query is : Resolved
02 December 2014
sir/ madam
My query is , if retired person is working as a consultant , and he is getting Rs 50000+10000 in lieu of HRA .please advice tax treatment
My query is , if retired person is working as a consultant , and he is getting Rs 50000+10000 in lieu of HRA .please advice tax treatment
02 December 2014
Consultant income is taxable under Income from profession/business. There should be Master-Servant relationship for tax-ability income under Salaries head.
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02 December 2014
These type consultants are basically an employee of organization. Generally these are allowed to be act professionals to reduce tax liability by claiming Expenditure etc., by eliminating PF liability, otherwise.
However, In all cases these consultants are treated as outsiders and assume to be have principle to principle relationship.
TDS is required to deducted as per provisions of section 194J
However, In all cases these consultants are treated as outsiders and assume to be have principle to principle relationship.
TDS is required to deducted as per provisions of section 194J
02 December 2014
Thanks sir for giving valuable answer
02 December 2014
You are always welcome
02 December 2014
Is TDS is applicable on HRA ? referring to above question
02 December 2014
Whatever amount given to consultant in any name are comes under the provision of TDS. for example it may be diwali bonus, Outstation allowance or HRA
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