Consultanty income senior citizen
This query is : Open
20 September 2011
My father, a senior citizen, is providing technical consultancy services to a company and getting a remuneration against consultancy bill to a tune of Rs. 10.08 lacs p.a.
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
Kindly respond
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
Kindly respond
20 September 2011
September 2011
My father, a senior citizen, is providing technical consultancy services to a company and getting a remuneration against consultancy bill to a tune of Rs. 10.08 lacs p.a.
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
My father, a senior citizen, is providing technical consultancy services to a company and getting a remuneration against consultancy bill to a tune of Rs. 10.08 lacs p.a.
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
20 September 2011
September 2011
My father, a senior citizen, is providing technical consultancy services to a company and getting a remuneration against consultancy bill to a tune of Rs. 10.08 lacs p.a.
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
My father, a senior citizen, is providing technical consultancy services to a company and getting a remuneration against consultancy bill to a tune of Rs. 10.08 lacs p.a.
The company is deducting 10% as TDS on consultancy services.
I would like to get clarified as under :-
1. Does my father need to be registered for Service Tax also since he is total claiming > Rs. 10 Lacs
2. What expenses can he book apart from provisions of 80C
3. The company has provided him a car and pays for its fuel, but, the drivers salary is being paid by my father, how can he claim rebate from income
4. what expenses can he claim to deduct his total income from consultancy services
5. He runs his consultancy business from home, can he claim expenses of electricity, etc.
6. He needs to use excessive studies with technical books and journals which he frequently purchases, can he claim such an allowance
7. How will he file his Income Tax
22 September 2011
Please find your queries answered below:
1. Yes
2. He can show expenses such as office expenses, telephone bill, electric bill, books, internet charges etc used for the research work needed for consultancy. Also he can invest in infra bonds u/s 80CCF.
3. The drivers salary can be deducted from his business income under the head "salaries".
4. Answered in point no. 2 above.
5. Answered in point no. 2 above. Also, since he is not required get his books of accounts audited, you need not provide too many details on nature of expenses. Electricity etc can be part of miscellaneous expenses.
6. Yes. Answered in point no. 2 above.
7. He can file return online.
Hope this helps !!
1. Yes
2. He can show expenses such as office expenses, telephone bill, electric bill, books, internet charges etc used for the research work needed for consultancy. Also he can invest in infra bonds u/s 80CCF.
3. The drivers salary can be deducted from his business income under the head "salaries".
4. Answered in point no. 2 above.
5. Answered in point no. 2 above. Also, since he is not required get his books of accounts audited, you need not provide too many details on nature of expenses. Electricity etc can be part of miscellaneous expenses.
6. Yes. Answered in point no. 2 above.
7. He can file return online.
Hope this helps !!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
