Greetings !
My query was regarding to know about my category under which I can pay tax.
I was working for a client company on remote location through a consultancy since May 2020.
I am a professional but my salary varies monthly i.e., depends on no.of hours worked. The payment will be calculated on total no.of hours worked in that month multiplied by hourly rate.
1. Will I come under salaried or freelancer ?
In the current financial year (May 2020 to Feb 2021), I was paid around Rs. 6 lakhs. My employer was deducting 1 % of monthly income as TDS.
2. Will I have to pay any advance tax? If so, Please suggest the process.
I was investing in stock market since few months.
3. How to segregate and calculate my STCG out of all my transactions ?
4. Under which section I have to file the tax and dates for the same ?
Kindly help me in clarifying my queries as I have no prior knowledge in taxation. (This was my first time paying tax).
Thanks & Regards.
CAclubindia
