Hi
One of my friends has casual contract income from Australia from April to july'21. How he has to treat such income?? whether to add it in the salary?? or have to be show under another heads of income?? someone please enlighten me in this issue
Menu
Regarding casual contract income
Replies (8)
Show as salary
Can I club the salary income from aug to march'21 received in india and the casual contract income together under the head salaries??
Yes....
It should be declared under head IFOS or PGBP.
Why sir??
The contract income would not have been added in form 16.
While it is foreign remittance, query may be raised if not declared in proper manner.
Under what category we have to show that foreign income?? what tax rate will be applicable on that or it will be taxable at normal rates??
Easiest option is to declare it under IFOS.
Yes normal slab rate will apply.
Recent Topic
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
Related Topics
CAclubindia
