Clubbing

 it will be exempt as i am already paying TDS on your  salary !! 

Hi Friends

Please help on understanding the tax situation and the way to go ahead in the best manner.

I'm an employee of an MNC where I'm drawing a salary of more than 5 Lacs per annum. I'm also engaged in providing services to an overseas client (Individually) who compensates me to the tune of 8 Lac Rupees, this by way of transfering foriegn currency directly in to the bank account, in the converted indian rupees. The later arrangement is a simple one, not bound by any contracts or related agreements.

My total earnings thus is approximately 13L. I need guidance on the best way to take it forward at the tax front. Would it be a good idea to club the non salaried income as PGBP or is there any better way to portray such income?

If it is PGBP, then what are the points to keep in mind. Thanks in advance!

Regards

Originally posted by : Saransh
	Hi Friends Please help on understanding the tax situation and the way to go ahead in the best manner. I'm an employee of an MNC where I'm drawing a salary of more than 5 Lacs per annum. I'm also engaged in providing services to an overseas client (Individually) who compensates me to the tune of 8 Lac Rupees, this by way of transfering foriegn currency directly in to the bank account, in the converted indian rupees. The later arrangement is a simple one, not bound by any contracts or related agreements. My total earnings thus is approximately 13L. I need guidance on the best way to take it forward at the tax front. Would it be a good idea to club the non salaried income as PGBP or is there any better way to portray such income? If it is PGBP, then what are the points to keep in mind. Thanks in advance! Regards

i feel your job would go in trouble if u disclose the facts of overseas income, coz MNC jobs have loads of restrictions over the employee

form a HUF and shift the overseas income to that file