Which prfessional code

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This discussion clarifies the correct ITR filing for a lecturer working on a contract basis. The college deducted TDS under Section 194C, and the lecturer received Form 16A. While ITR 3 with profession code 17007 ('Other education services n.e.c.') is relevant, the presumptive tax scheme under Section 44ADA is not applicable in this scenario. It's advised to file without the presumptive scheme, showing the full income and opting for the new tax regime to potentially claim a refund of the TDS.

Rajesh Bk

Rajesh Bk (Querist)

02 July 2023 my wife is working as lecturer in a college on contract basis. the college deducted tds from her payment of Rs.4 lac under section 194 c . college also issued 16 a form form the same . In the 16 a , clearly mentioned 194 c section. As per my knowledge for the tds 194 section one should file return under itr3 professional schedule. But I have confussion that which professional code is to select

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

02 July 2023 Other education services n.e.c. 17007

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Rajesh Bk

Rajesh Bk (Querist)

03 July 2023 Thank you so much sir for your kind reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 July 2023 You are welcome...
...

Rajesh Bk

Rajesh Bk (Querist)

03 July 2023 you said that my wife profession code under itr 3(194 c) is 17007 earlier. Total remuneration is Rs. 4 lakh annually. But I have a confusion that under which presumptive tax scheme it comes or can we file without presumptive tax scheme for that. kindly guide me in this regard

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 July 2023 File without presumptive scheme.
Only 44AD applicable.

Rajesh Bk

Rajesh Bk (Querist)

03 July 2023 Thank you very much for your kind and valuable suggestion sir. Thank you once again sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 July 2023 You are welcome..
...

Rajesh Bk

Rajesh Bk (Querist)

05 July 2023 My wife is working as lecturer in a college under contract basis. Her total remuneration is Rs. 3,68,100/- annually for financial year 2022-2023. The college deducted Rs. 3684/- as TDS under section 194 c. As per my knowledge it comes under ITR 3 returns in Professional Income schedule and professional code 17007 (i.e. other education services n.e.c) I am confused now. Should we show Rs.3,68,100 professional income under presumptive income under 44ADA.(50% Expences)? Can we show the above income without using presumptive income option?. In which option or where we should enter the above professional income amount ( online return filing). Kindly guide us in this regard. We are very thankful to you .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 July 2023 194c TDS deducted 44ADA not applicable.
Show the full income and opt for new scheme no tax payable TDS get refunded .

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