Reg:stitching income
This query is : Open
MALKEET SINGH
(Querist)
30 June 2014
can somebody tell me..
Under the Which Head of Income Tax, the Income of House Wife from Stitching Activity at house has been Shown?
regard
Malkeet
Under the Which Head of Income Tax, the Income of House Wife from Stitching Activity at house has been Shown?
regard
Malkeet
CA SUNIL K GARG
(Expert)
01 July 2014
it will be business income
MALKEET SINGH
(Querist)
01 July 2014
Mr. CA Sunil k Garg...
Sir, It is not at the Market Place.
The Income is amounting to Rs 225000, can we show at Income under the Head other source?
Regards
Malkeet
Sir, It is not at the Market Place.
The Income is amounting to Rs 225000, can we show at Income under the Head other source?
Regards
Malkeet
Soumitra Basu
(Expert)
01 July 2014
show as income from other source. fill in the details therein
CA SUNIL K GARG
(Expert)
02 July 2014
dear malkeet singh
sir, pls refer to sec 56 (1) 56 (2), income from sources is a residuary head, only income which is not chargeable to income tax under any head of specified in section 14 , item A to E.and items specified u/s 56 (2)is chargeable under this head.
it does not effcet the nature of income , if it is not in market place. eg professional income, coaching classes ,
hence as per law, it is business income
sir, pls refer to sec 56 (1) 56 (2), income from sources is a residuary head, only income which is not chargeable to income tax under any head of specified in section 14 , item A to E.and items specified u/s 56 (2)is chargeable under this head.
it does not effcet the nature of income , if it is not in market place. eg professional income, coaching classes ,
hence as per law, it is business income
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MALKEET SINGH
(Querist)
02 July 2014
so.
Sir,
Soumitra basu and CA Sunil K garg ..
What Should I Do ?
Regards
Malkeet Singh
Sir,
Soumitra basu and CA Sunil K garg ..
What Should I Do ?
Regards
Malkeet Singh
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