my friend has salary income from Infosys Ltd and also consultancy income from other company. therefore income tax return preparation such consultancy income can show as 44ada 50 percent?
consultancy company tds deduct under 194j?
which head is show 194j income sir?
Menu
Salary income and professional income
Replies (3)
Quick Summary
In your case, if the income from consultancy is one time and/or casual in nature, if it's for this year only, next year not happen then it needs to be considered as income from other sources.
However, if the income from consultancy is going to be substantial, every year and year after year, i.e regularly every year then such income shall fall under income from business and Profession and yoi can show u/s 44ADA.
So,in your case you can...
However, if the income from consultancy is going to be substantial, every year and year after year, i.e regularly every year then such income shall fall under income from business and Profession and yoi can show u/s 44ADA.
So,in your case you can...
Dear Sir,
Yes, you can do, firstly, you should claim Income from salary as per Form 16 and thereafter claim Business and Profession Income under 44ADA (50% or more than as the case may be). Claim all deduction as well as i.e. Standard.
This year only consultancy income, not for forthcoming year, so such income sec 44ada or other sources?
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
