Dear Sir/Mam
I'm an accountant in 5 firm & I get payment cheque each of them separately on monthly basis .
Is my income is considered as salary or professional fee ?
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Imcome as salary or Professional fee
Replies (12)
How are they considering payment ? As salary or as professional fee ? (Retainership fee)
Depending upon payers classification, you have to show it accordingly
Depending upon payers classification, you have to show it accordingly
If they show as salary then Can I show my income as salary because I receive it from five employer's
Get salary certificate from all five employers
There is no ceiling on No. if Employers.
But Standard deduction maximum will be total 50000/- only (and not employer wise)
There is no ceiling on No. if Employers.
But Standard deduction maximum will be total 50000/- only (and not employer wise)
Thank you for your advice.
If they show my income as their professional fee and deduct TDS on my income u/s 94J then It is valid or not ?
If they show my income as their professional fee and deduct TDS on my income u/s 94J then It is valid or not ?
If TDS under 194J is there then you must show income as Professional Income only.
You make take benefit by opting for 44ADA presumptive taxation .
You make take benefit by opting for 44ADA presumptive taxation .
This is in the form professional fee not as salary since there is employment relationship between you and their firm
Employer employee relationship is must, for salary
Check if there is any T.D.S Deduction in form 26AS. Most probably you must get covered under Salaried Employee.
For Professional fees , your profession must get covered under Professions notified U/s 194 J in this regard.
@ rawal
there are 3 options.
1. are they deducting tds and giving u tds certificate.
2. if yes get hold of the tds certificate.
3. at what rate.
there are 3 options.
1. are they deducting tds and giving u tds certificate.
2. if yes get hold of the tds certificate.
3. at what rate.
Sir,
One firm Deduct TDS u/s 94J on my incom and remaining four firms do not so.
One firm Deduct TDS u/s 94J on my incom and remaining four firms do not so.
So it's better for you. No TDS deduction. TDS deduction is player's responsibility.
At the year end you check what type of payment certificate they are giving and then show accordingly in ITR.
Whatever TDS is there as per 26AS that you claim in ITR.
At the year end you check what type of payment certificate they are giving and then show accordingly in ITR.
Whatever TDS is there as per 26AS that you claim in ITR.
You should file your return under Salary head
If your salary exceed five lac you will be paid tax
There is no limit of employers
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