Menu
Salary received by contractual teacher
Salary received by contractual teacher in an educational institution will be chargeable under which head of income?
Replies (4)
Quick Summary
Did they deduct any TDS.?? if yes under which section they have deducted ??? if it is 192 then income from salaries and if it is 194J then income from business or profession. for this you can see your form 26AS.
Or else if you get Form 16 then it is Salary income or Form 16A then it will come under business or profession head.
Normally it will come under the head of salaries.
Contract employee means there is no employer and employee relations , so Income will be under business and profession , can file ITR4 or ITR 3 .TDS should be deducted under 194 J of I T Act,
Total taxable income
Total income received
Less - Expenses incurred for the purpose of
earning this income
Total taxable income .
Total taxable income
Total income received
Less - Expenses incurred for the purpose of
earning this income
Total taxable income .
Income under salary
If you are not getting benefits of HRA , Leave travel allowance , leave encashment , no deduction under pension scheme ,and only get fixed income , then as a contact employee you can also file under 44ADA as profession , ITR4 . or as per my 1 st reply . for salary employer employee relations is required this my opinion ,wait for others opinion also .
Recent Topics :
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
Related Topics :
CAclubindia
