Head of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2010
A CA working as paid assistant in a CA firm since 2009-10. The CA is holding a COP. The salary received - can it be shown as Professional income or it has to be shown as salary income in the income tax return. Till last year, income was shown as professional income in the return. Kindly clarify, want to know on urgent basis.
26 May 2010
Salary Income.
26 May 2010
AGREED, IT WILL BE TAXABLE UNDER HEAD SALARY .
26 May 2010
Agreed. It wil be slaary Income. For professional Income you need to hold COP.
26 May 2010
yes salary income
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2010
I am holding a COP. Till last year my income was shown as professional income. Since 2009-10, I am shown as paid assistant in this firm. So i want to know whether to show the monthly amount i receive as salary or professional income.
27 May 2010
It depends on the employer. If he shown in books your services charges as professional charges and deducts your tds u/s 194J , then you have to shown professional income. If employer shown you as employee and done tds working as an employee, then salary income.
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