Dear all one of my friends has income from a firm TDS is deducted U/S 194J Rs 3000/- . He is employee earning salary. Which ITR shall be filed. please suggest me....
Regarding itr
Replies (2)
Hi Amit,
TDS u/s 194J is deducted in case of professional income. So incase you are having any professional income apart fron your salaried income, you need to file ITR 4.
But in case this tds is deducted on salary and you have no other income other than salary and interest ITR 1(sahaj) will be filed.
For any further query PM/mail.
Anubhav Jain
anubhavjain176 @ gmail.com
Dear Amit,
Most possibly your friend has been employed on consultancy basis, hence TDS u/s 194J has been deducted. You will have to file ITR 4 for such income. Assuming your friend does not maintain books of accounts, summary of P&L(i.e. gross receipts,expenses(yes allowable), etc.) will have to be furnished. Taxable income will be his consultancy fees, less any expenses he incurred to earn the same.
Hope the above is helpful.
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