06 June 2011
mr. A, has been posted as Training Coordinator under GFATM project on a consolidated salary of Rs.30,000/- p.m the appointment under GFATM(Global Fund to Fight AIDS, Tuberculosis and Malaria) is on contract basis for a period of one year subject to continuation/termination based on performance.
under which head of income does it falls?? INCOME FROM SALARY OR PROFITS AND GAINS OF BUSINESS/PROFESSION is there any exemption for this income??
07 June 2011
Some time employee employer make a contract so you need to check more in depth if employer and employee relationship exist then it will be treated as salary and contract will be irrespective...if no such relation and employee is a independent person then Income from BP will be applicable
08 June 2011
employer and employee vis-a-vis principle and agent an employee works under the direct control and supervision of his employer. He not only receives instructions from his employer but is subject to right of employer to control the manner in which he should carry out the instructions. on the other hand, an agent is generally free to carry out his principals instructiions according to his own discretion.
check whether the aforesaid contract has the charecteristci of employee-employer or principal-agent if first is the case salary second is the case profession
CAclubindia
