Salary incoem and remuneration

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2013 Dear Sir / Madam

Here is my query is regarding Salary and Remuneration.
I am getting Salary from one concern and
Remuneration from sister concern and the
TDS is deducted under Section Code 94J.

Should my this Remuneration income treated
income from Business and Profession?

If yes, then should it is necessary to prepare Profit and Loss A/c?

If No, then how this income treated in my
Income Tax Return.

Please rewart as soon as possible.

Rupesh Jain

Rupesh Jain (Expert)

29 June 2013 REMUNERATION NATURE DEPEND ON FIRM BUSINESS NATURE
CONSULTNCY

OR SPECIFIED PROFESSION U/S 44AA OF INCOME TAX THEN YOU HAVE TO PREPARE P/L A/C

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2013 Jain Saab
you are not understand my query, my query is
simple i have not specialization in any profession, i am just doing job and getting reward as salary from one organization and Remuneration from sister concern to compensate me (TDS is deducted under section 94J) now please tell me should i prepare Profit and Loss account for remuneration income and claim deduction of expenditures.

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

22 July 2025 Got it! Here's the simple clarification for your case:

Salary income from one concern is clearly taxable under the head “Income from Salaries”.

The “Remuneration” paid by the sister concern, where TDS is deducted under Section 94J, indicates it is treated as fees for technical services or professional fees (business income), not salary.

Since you do not have a professional qualification and you are getting remuneration as compensation (not salary), this income is treated as “Income from Business or Profession”.

Hence, yes, you should maintain books of accounts (like Profit & Loss account) for this remuneration income and can claim related expenses (if any) against it.

On your ITR, report:

Salary under “Income from Salaries”

Remuneration under “Profits and Gains from Business or Profession”

If expenses are minimal or you want simplicity, you could also consider the presumptive taxation scheme under Section 44ADA (if applicable) for professional income (upto ₹50 lakh turnover), which requires less accounting.

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