Query on income tax on my full time + part time job

Hi ,

The person deducting income from your part time income will deduct it u/s 194 J and if you want to view that all your deductions agains your income then you can visit Incometax website and view your form 26 AS after creating a Login ID with that site.

Regards,

CA Konfused.

1) Your employer of full-time job must be deducting TDS from your salary, for which you shall be issued form 16 for IT returns. 

2) Is your employer of part-time job deducting TDS and if deducting then under what section. Are you paid salary or a professional/consultancy fees for your services by your employer of part-time job? Check whether your employer is deducting any TDS. 

3) Check your 26AS. 

3) If you are paid professional fees, then you may file ITR-4. 

go to TRACES website check u r 26 AS then fill the return if part time deduction is under section 192 thn it is salary than fill ITR 1 if part time deduction is under any section of 194 then fill ITR 4

Originally posted by : Mihir
	2) Is your employer of part-time job deducting TDS and if deducting then under what section. Are you paid salary or a professional/consultancy fees for your services by your employer of part-time job? Check whether your employer is deducting any TDS.  3) If you are paid professional fees, then you may file ITR-4.

Hi Mihir,

1. My part time employer is an US employer and is not deducting any taxes and my consultation hourly wage is getting directly credited to my bank account by the employer.

2. I did not pay any professional tax till now on my part time job income.

For my part time job, I use completely my personal resources like computer, Internet connection, electricity bill. What all can I exclude while computing the tax?

How should I plan to compute the tax along with my full time job?

Thanks,

Srinivas

If you are paid proper salary and not professional fees, then you can file ITR-2 - Schedule FSI.

The income accrued or arising outside india shall be taxed in India accordingly. 

Only if you are paid commission or professional fees, you can file ITR-4, in which case you can claim deductions of expenses incurred toward earning your income such as internet charges, electricity, etc.

if he is foreign employer than what he written in u r contract

in my view in this scenario ITR 4 WILL BE most beneficial for u

Originally posted by : manoj
	if he is foreign employer than what he written in u r contract in my view in this scenario ITR 4 WILL BE most beneficial for u

Hi Manoj,

So, Do you mean i can file the returns for my contract Job using ITR 4 and my full time Job with regular ITR1?