Income as a consultant or employee

This query is : Resolved

abhishek harsh (Querist)
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28 December 2012 I need to get decide the income against salary is beneficial or against consultant.

Kindly let me understand complete calculation for comparison.

Prof. Bajaj

Prof. Bajaj (Expert)
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28 December 2012 In my opinion, it would be beneficial to take income as a consultant. This way:

1. You can claim most of your expenses as business expenses.

2. This can help you lower your tax slab.

3. You need not mandatorily contribute to PF. You can choose your own avenue to invest to save tax and grow wealth.