Working as a Consultant for Foreign Company and Salary credited to my account.
This query is : Resolved
Quick Summary
05 July 2022
Working as a Consultant for Foreign Company and Salary credited to my account.
Do i need to pay tax?
Do i need to pay tax?
05 July 2022
Yes, it will be taxable.
First check the exact nature of income, and tax deducted on it.
Then check for DTAA and proceed accordingly.
First check the exact nature of income, and tax deducted on it.
Then check for DTAA and proceed accordingly.
05 July 2022
Mr.Manish, Thanks for quick reply. The nature of income is salary/consultant fee. No tax deducted from that end. I will raise a monthly invoice, and against the amount will be credited to my account. In this scenario do i need to show income as ?
07 July 2022
Declare it u/h PGBP as professional fees.
08 July 2022
Why to declare as u/h PGBP as professional fees, when it is purely paid as salary
08 July 2022
Do you have any appointment letter, establishing your relation as employee?
08 July 2022
Then why you need to raise bill every month?
08 July 2022
So....
Do you understand difference between an employee and a consultant?
Do you understand difference between an employee and a consultant?
08 July 2022
Employee will be on rolls and get all EPF, Medical LTA benefits and Where as consultant will work and raise an invoice on monthly basis for the services delivered.
08 July 2022
So..
how can you be called an Employee of the company?
how can you be called an Employee of the company?
08 July 2022
If you are on payroll then treat the amount as alary
If every month you are raising bills and receiving the fees then treat as business income.
If every month you are raising bills and receiving the fees then treat as business income.
08 July 2022
@ Sharma Ji , Thank you. So business income is taxable as per what slabs.
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