Contractual employment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2014 Hi, for an individual who is on a contractual employment by a company as a contract consultant (through a contract agency) and is paid monthly based on an hourly billing rate and hours worked during the month and Contract agency is deducting EPF on salary as per law by the hiring company. (i) Is the individual's (Consultant) income treated as business income or a salary? Please response to it.
Thanks

HARI KRISHNA

HARI KRISHNA (Expert)
Follow

15 March 2014 IN THE QUESTION ITSELF YOU HAD MENTIONED THE WORD SALARY. SO CONSIDER IT AS SALARY INCOME AND MOREOVER HE IS DEDUCTING PF. PF CAN BE DEDUCTED ONLY ON SALARY.

PLEASE CHECK ONCE ABOUT THE TDS ASPECT LIKE UNDER WHAT SECTION HE IS DEDUCTING TDS WHILE PAYING AMOUNT/

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2014 Consultant are on One year contract and TDS deducted us/s 194J.

Upgrade to CAclubindia Pro. Subscribe Now!