Tax for Advisor service

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After Attaining the age of 60 I am continuing my service in the same organisation as an Advisor- Techniical.

Can anyone please enlighten about the tax laibility on my earning and which is the best ITR form for filing.

 

I have not opened any organisiation or any registered firm

Replies (5)
Quick Summary
This discussion addresses tax implications for individuals over 60 continuing to work as technical advisors. It covers potential tax liabilities, the appropriate ITR form (ITR4 with Section 44ADA suggested if TDS under 194J applies), and GST registration requirements. Advice indicates GST registration is needed if earnings exceed £20 lakhs annually, which can be done under your own name.

If TDS u/s. 194J has been deducted over it; File ITR4 with sec. 44ADA, declaring mimimum 50% profits over the total receipts.

Thanks for promt advice 

You are welcome.              

Dear Sir,

Sorry for disturbing again, If my renumration exceeds 2 Lakhs/ Month, I need to take GST No?

I have not registred any firm for continuing my service.

Your advice will be highly appreciated

Thanks in Advance

The day you seem to cross Rs. 20 lakhs in any financial year, you must get GST number, You can register under your own name, no need for any firm's name.

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