Nature of income
This query is : Resolved
18 July 2012
Dear all
my friend is working in marketing division of one reputed concern in return he get commission.TDS also deducted @10% as commission income.Form 16 A (And not Form 16) is also provided.There fore whether the income is chargeable under Salary head or Income from other sources.He his full time employee.The confusion is created because of Salary definition which says Salary includes Commission also.There fore please suggest me and also which return will applicable.Thanks in advance.
my friend is working in marketing division of one reputed concern in return he get commission.TDS also deducted @10% as commission income.Form 16 A (And not Form 16) is also provided.There fore whether the income is chargeable under Salary head or Income from other sources.He his full time employee.The confusion is created because of Salary definition which says Salary includes Commission also.There fore please suggest me and also which return will applicable.Thanks in advance.
18 July 2012
What ever the payment you are getting under employment relationship, from the employer will be treated as Income from salary only.
But your query is giving to different meaning.when he is full time employment,why company deducting TDS as commission and issuing form 16A?
But your query is giving to different meaning.when he is full time employment,why company deducting TDS as commission and issuing form 16A?
Message likes :
1 times
19 July 2012
If he is an full time employee there is no point of deducting tds @ 10% and it will be covered under salary head.
Message likes :
1 times
19 July 2012
Dear sir first of all thank you for your reply.
If he is not a full time employee than what will be the income head.
If he is not a full time employee than what will be the income head.
19 July 2012
It is a nature of Business Income
Message likes :
1 times
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
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
