Filing of Income from Technical Services/ Consultancy


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If you have income from salary, interest, dividends, capital gains, and a one-time technical services/consultancy fee of Rs 6,00,000, and your total taxable income is over 50 lakhs, you should file ITR 3. This consultancy income is declared under the Profits and Gains from Business or Profession (PGBP) head in Schedule BP, which involves filing a Trading Account and Profit & Loss account.

08 July 2023 If one has incomes from Salary (Pension), Interests (Bank and Annuities) , Dividends (MF & Shares) , Capital Gains (MF& Shares) and have Technical Services/ Consultancy income of Rs 6,00,000/- and overall taxable income is above 50 lakhs, then which ITR form one uses for filing tax?

08 July 2023 File ITR 3.

08 July 2023 Under which Schedule and Section will this one time technical services fee of Rs 6 lacs be entered in ITR3?

08 July 2023 Under head PGBP, by filing Schedule BS, Trading acc. P&L etc.


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