Selection of income head

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This query is : Resolved

Avinash Singh (Querist)

21 September 2016 hello everybody my query is that if a person is getting income from an institution as a guest lecturer then in which head will its income should be taken and No TDS is deducted on such income the income will be around 210000 for the whole year received in fragments on monthly basis.

Amol S Joglekar

Amol S Joglekar (Expert)

21 September 2016 it can be shown as income from other sources.

Avinash Singh

Avinash Singh (Querist)

21 September 2016 Sir but it may be possible that department can raise tax liability

Amol S Joglekar

Amol S Joglekar (Expert)

21 September 2016 what for? What is the reason?

Avinash Singh

Avinash Singh (Querist)

21 September 2016 with it not be a professional income and would be chargeable for tds under 194 j

Amol S Joglekar

Amol S Joglekar (Expert)

21 September 2016 it can be treated as professional income, at the option of assessee.....

Amol S Joglekar

Amol S Joglekar (Expert)

21 September 2016 TDS is the domain of that Institute which is giving the person guest lecture fee/charges. The receiver need NOT worry about the same.

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Avinash Singh

Avinash Singh (Querist)

26 September 2016 thanks a lot sir your guidance means to me a lot..

Amol S Joglekar

Amol S Joglekar (Expert)

26 September 2016 you are most welcome.

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