Need to know itr for to be filed for nature of payment :194j
This query is : Resolved
16 November 2013
Hi All,
My friend got a stipend of 25000 Rs/- per month from some MNC where the company
deducted a tax of 2500 Rs/- under nature of payment 194J (Fees for professional or technical services), so i would like to know the ITR form to get the tax return back .
Company has n't taken the House Rent Allowance , 80C can i take of them and apply the respective ITR.
Please reply me soon.
My friend got a stipend of 25000 Rs/- per month from some MNC where the company
deducted a tax of 2500 Rs/- under nature of payment 194J (Fees for professional or technical services), so i would like to know the ITR form to get the tax return back .
Company has n't taken the House Rent Allowance , 80C can i take of them and apply the respective ITR.
Please reply me soon.
CA.Shubhneet Kaur
(Expert)
16 November 2013
If he received the stipend as employee of the company means employer-employee relationship was established then it is taxable under head Salaries, otherwise it is taxable under head 'Income from Other Sources', under which a person can claim expenditure laid out wholly & exclusively for earning that stipend.
While filing ITR a person can definitely claim deduction eligible to him.
While filing ITR a person can definitely claim deduction eligible to him.
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