Tds u/s 92
This query is : Resolved
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?
23 June 2012
No you can not do this. Income must be shown as income from salary.
CA PARAS BAFNA
(Expert)
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.
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However, the proprietor should show only salary income, so that, TDS credit can be obtained without any hurdle.
.
.
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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