Finology
Finology

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Other sources or profession?

This query is : Resolved 

27 July 2011 Hi Experts,

If a person has income from adhoc audit assignments for which the payer has deducted TDS @10% under 194J, is it necessary to treat it as profession or we can treat it as income from other sources and file the return accordingly?

27 July 2011

It is not advisable.
*
In case the refund is required on adhoc basis, he must show his income in correct head.
*
It will create a big question mark on the credibility of the professional who audits
on adhoc (????) basis, but does not have time for filing his own Balance Sheet.
*

28 July 2011 Thanks you sir,

But though its not advisable, is it permissible?



Actually its his first return. He is a B.Com graduste and just conducts internal audits and stock related audits etc so does not know how to file it.

Thanks agarin sir,



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries


loading


Unanswered Queries


Follow taxation Exam20 Book Book


Answer Query