Tds u/s 92

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Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2012 A proprietorship consultancy firm engaged in H R training of Educational institute or Industrial area. For F.Y. 2010-2011 he given training in educational institute and institute deducted TDS u/s 92B (salary) & issued form 16. Can we show received salary as professional fees in income tax return under head Profit from Business/Profession?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 June 2012 No you can not do this. Income must be shown as income from salary.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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23 June 2012 It shows that either HR Training had not been rendered satisfactorily or the Educational Institution was not educated properly so as to decide whether A Proprietory Firm can be employee ?
.
Only an Individual can be an employee.
.
However, the proprietor should show only salary income, so that, TDS credit can be obtained without any hurdle.
.

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