A person is appointed in a company as consultant , but he has work as regular employee. Whether his Income is taxable u/h salary or profession Income u/h PGBP ?
If taxable u/h PGBP , he spend 300rs daily as a travelling expense for reaching office . Whether such travelling expense will be allowed as expenditure u/h PGBP.
what will be the consequence if his company deduct tds @ 10%, as if he is carring a profession ?
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Consultant vs salaried employee
Replies (6)
taxable under the head profits and gains from business or profession , you can clam the tds amount deducted by the company through 26 AS
It's not about the way you work. its the position you carry which defines the status of a taxable person.Here he is appointed as a consultant, which obviously declares him as a professional. so tds @ 10% is correct. And yeah you can claim travelling expense as expenditure too. Adios
Neeraj Kumar
Neeraj Kumar
Dear Mr. Alka Tripathi.,
What is your nature of work as a consultant...?
also please tell me your professional qualification...
What is your nature of work as a consultant...?
also please tell me your professional qualification...
Hello,
I want to open my firm for engineering consultancy and before that i want to know about taxation is applicable for consultancy. If a prepare a bill of 5 Lakhs without taxes, as my firm turnover would be less than 20 Lakhs so no need to add GST taxes. When my customer pays 5 Lakhs to me than how much tax i have to pay. please guide me so that i can open my firm soon.
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