Respected Forum,
If a retired bank officer has been hired as "Advisor or Consultant" for a period of 12 months, and the fixed contract amount to be drawan 1/12 every month, then the TDS deductable falls under what section of ITA.
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Income tax on hiring retired person as advisor or consultant
Replies (2)
In my opinion you should deduct TDS under sction 194J (Professional services)
as person is appointed as a advisior (even if he is not having any professional degree of education)
U/S. 194J at rate 10%..... as soon as the aggregate amount equal or exceed Rs. 30,000/-
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