Which head of income to be ed

If I am having any income in the form of Assortment Charges, what will be the head of income under which I will classify Assortment Charges for filing ITR?

Will it be PGBP or IFOS?
Replies (4)
Quick Summary
This discussion explores the correct income head for classifying 'Assortment Charges' when filing an Income Tax Return (ITR). The user is seeking clarification on whether these charges, potentially related to diamond assortment and subject to TDS under Section 194C, should be reported under 'Profits and Gains of Business or Profession' (PGBP) or 'Income from Other Sources' (IFOS). The core question is which classification is appropriate and if there are any drawbacks to choosing IFOS.

What are the Assortment Charges...?
Diamond Assortment Charges
TDS deducted u/s 194C
You can prepare your income statement under the head of PGBP...
Can I show it under IFOS?
Will there be any problem/issues if I show it under IFOS?

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