Income from salary and income from cosulrancy
This query is : Resolved
Vishal Kothari
(Querist)
30 July 2016
Dear Sir
My friend is software programmer employed in IT Company from where is earn the salary income.
during the F Y 2015-16 very first time he also provide his consultancy to other IT firm in nature software programming guidance
and earn 3 lacs ( TDS deducted 30000)
weather he is required t maintain books of accounts ? and to file the ITR with p&l and B/s
he has expended rs 180000 Rs to earn his consultancy income thus his income from consultancy is net 120000/-
My friend is software programmer employed in IT Company from where is earn the salary income.
during the F Y 2015-16 very first time he also provide his consultancy to other IT firm in nature software programming guidance
and earn 3 lacs ( TDS deducted 30000)
weather he is required t maintain books of accounts ? and to file the ITR with p&l and B/s
he has expended rs 180000 Rs to earn his consultancy income thus his income from consultancy is net 120000/-
CA SANKET GARG
(Expert)
30 July 2016
Books of Accounts need to be maintained. Yes he has to file ITR with P&L and Balance Sheet.
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Vishal Kothari
(Querist)
30 July 2016
cant he take the benefit of the Sec. 44AA under non- sepcified professional
CA SANKET GARG
(Expert)
30 July 2016
It falls under Technical Consultancy
Vishal Kothari
(Querist)
30 July 2016
Does coaching An IT employer's Employee is in nature of technical consultancy as he was providing coaching to the employee of the company , for grooming their knowledger
CA SANKET GARG
(Expert)
30 July 2016
Sir its a Technical Consultancy, because he is enhancing employee skills by providing technical knowledge.
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