Doubt as to heads

I have helped someone , consultancy for his business purposes.
He gave me ₹800000 for that help but not as a gift .
But my main business is not giving consultancy.
kindly tell in which section and head will it be covered ?
Thank you .
Replies (11)
Quick Summary
This discussion explores the correct tax head for consultancy income received by an individual whose primary business is jewellery sales. Participants debate whether the consultancy fee should be classified under 'Income from Other Sources' or 'Profits and Gains from Business or Profession' (PGBP). The consensus leans towards 'Income from Other Sources' if the consultancy is casual and not a regular part of the individual's main profession, while also highlighting potential TDS implications and the need for careful consideration to avoid queries from tax authorities.

What is your main business?.
INCOME FROM OTHER SOURCES
Show as PGBP under 44A series or a gift from relatives during shaadi season or valentine season 😊

NO NOT ACCEPTED. THERE IS EVERY POSSIBILITY OF QUERY. IS THAT YOUR MAIN PROFESSION.

Income from other source
My main profession is selling jewellery.
Capital gains long term or short term

SECTION 194J/194C is applicable for TDS and Need to do file ITR3 as business

Sir I want to know in which head will it be taxable or not ? 🙏

If consultancy is only casual or not regular work, it is better to show under head "Income from other sources". 

Thank you all

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