On which basis my income will be taxed.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2014 hii, my self amar.. n i want to ask that on which basis the job work (only services provrided) will be accounted(tax)?for example- i am doing a job of making design, coloring, on jeans pant, and jeans pant is provided by my client.
So on which basis i will be tax..

N also tell the form/ invoice which i should get from my client which i can show to sales tax officer?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 August 2014 you have a option to offer income on receipt or accrual basis. your net income after deducting business expenses shall be taxed at prevailing tax rates.

for format invoice, kindly search in Files section

Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2014 Is there any TDS section is applicable on the receipt of such income?

do i need to have TIN no. for such services?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 August 2014 TDS is the problem for the payer. you just need PAN.

However, if your turnover exceeds Rs 100 lakhs, you shall be required to deduct TDS on the payments made by you.

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