Taxability of retainership income
This query is : Resolved
28 May 2009
Hello Friends,
I need your support in the matter of retainership.
I have the COP and also engaged as retainer in a company. I want to know, whether permission of the institute will be required for this or not.
Secondly, the income as a retainer would be taxable under the head PGBP or Salary.
Please reply at your earliest.
Thanking you,
Yours Truly,
Abhishek Agarwal
I need your support in the matter of retainership.
I have the COP and also engaged as retainer in a company. I want to know, whether permission of the institute will be required for this or not.
Secondly, the income as a retainer would be taxable under the head PGBP or Salary.
Please reply at your earliest.
Thanking you,
Yours Truly,
Abhishek Agarwal
28 May 2009
If you are taking the retainership income as professional charges, then no need to intimate ICAI about this thing, as you already have COP. You must issue proper billing to the company from where you are taking retainership fees, and TDS should have been deducted u/s 194J if covered in TDS provisions. Your income shall be taxable in PGBP. Pls be aware of this fact. Dont show your income under salary even by mistake. CA with full time COP is not allowed to do the job.
Message likes :
1 times
29 May 2009
agreed with Mr. Tarun
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- STCG FOR GOLD ETFs
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
