Need help

Hello,

 

I am Salaried Person with Annual Salary Rs. 180000/- also I am Brahmin which performs pooja from which I also earn yearly amount of Rs. 120000/-.

Now I want to know

1) Under which heads I can show this 120000/- in my income tax return ? 

2) Is it taxable amount. ??

3) Do i need Service Tax Registration to show this amount.

 

Thanks in advance for your help

 

Replies (9)
1. Income from business and profession 2. Yes, this will be part of your total income 3. Wait for others reply

[1] Service tax is above 10 lakhs.you need not bother about it

[2] Your major source of income is from salary

[3] Income from performing puja comes under Income from Biz and profession

[4] since u r  an accountant also You should  prepare a small  BS and P &L

 [5]  If you take income from puja  as income from other sources then you can deduct puja material and petrol and other expenses from receipts and purely file ITR1.

[6] TDs may not have been deducted from ur salary.

i am not from accounts - other experts plz help him also.

Rs.1,20,000/- can be shown under the head. Income from profession.  In a marginal relief to the individual taxpayers, Finance Minister Arun Jaitley on Thursday increased the income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh for citizens up to 60 years. For senior citizens the limit was hiked to Rs 3 lakh.

1.180000 will be shown under the Head Salary 2. You are doing Pooja Related Services , so that concerned reciepts will be shown under the Head Of PGBP basically income from Profession. 3. You dont need to get registered under service tax as the threshold limit for registaration is Rs 900000.
1. Income earned by performing puja will come under the head Profits or gains from business or profession because it's a profession. i.e.,1,20,000. 2. No it is not taxable. 3. You are not required to get service tax registration because it is necessary to those persons whose value of taxable service provided exceeds Rs. 9 lacs. Regard SONU JHA

i have converted from ipcc into direct entry scheme on 14-april -2015 but yet not registered for articleship should i have to pay penalty for late registration and what will be the minimum training period for may 2016 exams  and what will be the penalty for late registration

 

Visit the website : www.icai.org

you file itr 4 and salary shown to salary head and pooja income - exp realeted from this income = net income from pooja shown in business and profession income

Sonu jha which section says income from prof is not taxable

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