A Businessman,if he gives gets fees for speaking in a 'Faculty Development program', of a college,under which Income Head will it be taxable?
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Income Head for One time Lecture Fees
Replies (9)
Dear Priyanka..
It vl be taxable under the head Income From Other Sources...
Regards..
Neha..
dear neha is right it will be taxable under ios.income not taxable under any other head
Agree with above friends.......
It will be taxable under Income from other sources....
agree.. its not n income from primary source... so other sources
Agree...
Yes it is taxable under the head Income From Other Sources..
Hi All
Thx a lot for the replies. Will the college be entitled to deduct TDS?
Priyanka,
If college is considering the same as Professional Fees and payment is more than Rs. 20,000- college is entile to deduct TDS
Ok, so while filing return, he can show the income under the head IOS and then claim TDS deducted
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