Dear Friends. Its one confusion im having while filing one return. The respective person received Consultancy charges and is employed under contractual Basis. The TDS deducted is U/s 194C @ 1%. While filing his return under what head should this consultancy charges be shown??? PGBP or Other Sources?Can he claim expenses under other sources??Or should his income be shown under PGBP????PLease Let me know what are your opinion in this case as per your point of view..Thank You in advance
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Kindly help with this confusion in return filing
Replies (5)
income to be shown under head PGBP and expenses to be claimed accordingly...
Yes, income from business/profession shall apply here.
But the confusion is he is not imparting any professional Service.Upon that TDS is NOT deducted under 194J. His service is termed as Consultancy and he has a contract for 1-2 yrs..This is the reason im havin this confusion.
Ask his deductor to rectify the Mistake of deducting Tds U/s194C instead of 194J.
Or else,
File Return under the head PGBP and claim expense. Either show it Business and file return U/s 44AD or else show it as profession.. whicever benefits the Assessee..
it is not necessary that tds has to be deducted u/s 194j.... the point is that he is providing consultancy service and it is taxable as pgbp only.
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