Nature of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2018
I am secretary of a society of which my father is the Chairman. I receive monthly remuneration from the society for managing it. Which type of income will I show it as in my Income Tax Return, is it Business Income, Income from Other sources or Salary Income?? . I also have rental income and interest income which appear in my return.
03 March 2018
Examine the resolution or agreement entered into by you and the society, and if principal and agent relationship exists between the society and you, then offer the remuneration under the head'income from other sources'.
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