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Itr for contract employee
MY FRIEND IS WORKING ON CONTRACT EMPLOYEE BASIS. AND THE TDS DEDUTED BY THE COMPANY IS UNDER SECTION 194C. SO CAN HE FILED HIS RETURN IN ITR-1, UNDER OTHER SOURCES OR NOT
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| Originally posted by : pravin | ||
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MY FRIEND IS WORKING ON CONTRACT EMPLOYEE BASIS. AND THE TDS DEDUTED BY THE COMPANY IS UNDER SECTION 194C. SO CAN HE FILED HIS RETURN IN ITR-1, UNDER OTHER SOURCES OR NOT |  |
contract based employees must file itr-4 or 4s under income from business or profession
Because the status of this sort of workforce differs from that of an employee, the manner in which they pay taxes differs as well. Because there is no employer-employee relationship in this scenario, their income will not be taxed under the head Income from Salaries, and they will be unable to file ITR 1/ ITR 2 Forms when filing their tax returns.
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