27 July 2017
I work as a Consultant Accountant for a private agency (I am a senior citizen over 65 years). I get around 2.50 lakh a year for this service. In additional I have pension and interest incomes. Total annual earnings would be around 8 lakh including the professional fees. I also have to incur expenditure on travel, computer, computer assistant, stationery etc which comes to about 70-75000 for rendering the consultancy services.
What will be my tax liability on professional fees of Rs. .5 lakh (when taken together with other income)
CAclubindia
