Tax for Advisor service

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.

If you are paid as an advisor after retirement, the tax treatment depends on the actual engagement, not on whether you have registered a firm. Fees for independent advisory services are generally taxable as business/professional income under the head “Profits and gains of business or profession”; an employee-style appointment with control, service conditions and salary deductions may instead be treated as salary. The contract, payslips, TDS certificate and nature of the work help establish the correct treatment.

• If the advisory income is professional/business income and you do not use a presumptive scheme, ITR-3 is generally applicable. ITR-4 may be available if you meet the conditions for presumptive taxation, such as section 44ADA where applicable.
• If you have only salary/pension and other eligible income, with no business/professional income, ITR-1 may be available, subject to its conditions; otherwise consider ITR-2.
• At age 60, you are a “senior citizen” for income-tax purposes, but age alone does not determine the return form or make advisory income exempt. Taxability and deductions depend on the relevant tax regime and your full income details.

The engagement documents and whether TDS is reported as salary or professional fees are useful starting points for classifying the income and selecting the return. Manual review of contracts, TDS records and income categories can be difficult; automation reduces repetitive work while professional judgment remains in control. At Jir AI, our 2,000+ AI agents and 650+ integrations streamline GST, ITR, TDS, TCS and other compliance workflows, helping reduce manual workload by up to 70%. For a practical look at streamlining these workflows, message us on WhatsApp: https://wa.me/message/3HVOZ7HIY4ESC1