WebFeb 27, 2024 · It will be treated as Income under head Salary if the commission income is based on the turnover of the company as a fixed percentage and is included in the employement contract as well. 1 Like Siddharth Goel (Chartered Accountant) (3026 Points) Replied 29 June 2024 Originally posted by : nagarjuna WebJun 5, 2024 · Consideration which is chargeable under the head ‘salaries’ in the hands of the recipient . Points to consider In order to be covered in the definition of FTS, …
Income Tax For Self Employed : Business, Profession
WebJul 26, 2024 · under the head of business and profession Online classes for CA CS CMA, Professional courses for GST, Accounts, Tally etc, & Books CA ABHAY GUPTA (Practice) (3215 Points) Replied 24 July 2024 if Receipts less than Rs 50,00,000/- then show 50% as income and file ITR 4. Sangeeta (Chartered Accountant) (39 Points) Replied 24 July … WebJun 19, 2024 · Also, your TDS is being deducted under Section 194 J which clearly shows that professional services are being rendered by you to the company and you are not working as an employee of the company.... strawberry and ice cream recipe
Income Tax on Contract based Employee/Consultant - Chartered …
WebMay 1, 2024 · Basically, income from consultancy is treated as business income in the view of the income tax department, The highest tax imposed for a consultant is 11.33% which also includes the education cess. The … WebAug 6, 2024 · The income chargeable under the head Business and profession could be declared u/s 44ADA. As per section 44ADA of the Income Tax Act if the gross receipts do not exceed fifty lakh the income chargeable for income tax purpose would be 50% of … WebNov 30, 2024 · Income which is not chargeable to tax under any of the heads of income specified in the Income Tax Act viz. Salary, House Property, Business or Profession and Capital Gain and which is also not exempt from tax under any section of the Income Tax Act, is chargeable to tax under this head. SOME EXAMPLES OF INCOME FROM … round mcm dining table