ello all one of our client have started coaching classes and the have also tied up with a school under which school will introduce a compulsory subject of Vedic maths for which our client will get Rs.70 per students for 800 students. now i want to know what will be the income tax liablity of our client? whether tds will be deducted? under which section? can we claim refund? what are the limits?
3 Replies
CA Karan Sathe
(CA )
(564 Points)
Replied 17 April 2016
professional income. TDS U/s 194 J @ 10% . Basic limit is Rs.30000/- yes u can claim refund .
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 17 April 2016
yes, tds will be applicabke for sure. tds will be u/s 194C. yes, your client can claim it while filing itr.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 17 April 2016
@ karan also point out correctly.. 194J can also be used. and i think this will be more appropriate.
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