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classification of income

175 views 2 replies

Raj Thakkar

ARTICLE

382 Points Joined February 2016

If an assesse is working as a management trainee in an autonomous body for contractual period of one year receiving fixed monthly payment and tds is being deducted @ 10% u/s 194J.. Now my question is whether the income will be treated as salary income and ITR-1 will be the ITR form or treatment will be different? please guide...

Replies (2)

Giridhar S Karandikar

Team Lead

7558 Points Joined November 2011

it will be treated as your professional income and not salary income because TDS under 194J is being made.

Raj Thakkar

ARTICLE

382 Points Joined February 2016

Thanks to both of you for your reply, suppose if tds has been deducted under wrong section then can we treat that income as salary and use form ITR-1 for claiming tds refund? because if treat it as professional income then it will be difficult to file itr as for that financial particulars (balance sheet & profit & loss A/c) are required to submit which are not available in reality.. please guide..