Salary income and consulting income
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2018
I have a salary income from my employer. Also I have an consulting income (which is with permission of employer).
I pay GST on consulting income.
While I pay tax at normal rates for my salary income, can I avail benefits of Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act for Consulting Income ?
Please advise. Thank you.
I pay GST on consulting income.
While I pay tax at normal rates for my salary income, can I avail benefits of Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act for Consulting Income ?
Please advise. Thank you.
15 May 2018
Yes, if you are a professional as per 44AA(1).
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2018
Thank you Mr.Warrier. I am an Engineer and do Technical Consulting. I read through 44 AA(1) which covers these two professions. Request your view please.
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