Whether tax payable for consultancy charges
This query is : Resolved
Samrat Kumar Ghosh
(Querist)
02 December 2012
I have joined The World Bank as a short term consultant. They will pay me consultancy charges (per day basis) which is nearly Rs. 9 lakhs (distributed against various deliverables). At the time of offer they told me that you need not pay income tax but I am doubtful about this. Please help me to clear my confusion and suggest the best.
Regards,
Samrat
Regards,
Samrat
Amol S Joglekar
(Expert)
02 December 2012
Some WB projects have the specific exemption from Income tax. You need to make the enquiry with WB. If exemption is not granted to WB, then you need to calculate your net profit and accordingly pay the tax....in INDIA.
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