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 .
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Doubt as to heads
Replies (11)
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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