13 August 2014
If Company is issuing you form 16 then show as Income from Salary and if its issuing you form 16A then show under the head Profits and Gains of Business or Profession.
14 August 2014
if there is employee and employer relationship between you and the company, you are the employee of the company regardless whether you are on contract or on permanent employment.
21 August 2014
Logic is simple. In employee and employer relation, they are bound by rule of employment. Whereas in case of consultant or other nature, they are not bound by the rule of employment but they are bound by contract.
It is better for quierst to look what type of contract he has signed by him . I hope he has one and this is the only thing which puts this query to rest.
21 August 2014
My view, since the contract basis work,it will not be come under Salary income u/s.17. Though we call it as contract employment, it will be nature of principal & agent relationship not employer and employee relationship . so it will be covered under PGBP.
CAclubindia
