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This query is : Resolved
13 August 2014
sir I m a contract employee whuch head I show my income salary or b&p and other sources
13 August 2014
If Company is issuing you form 16 then show as Income from Salary and if its issuing you form 16A then show under the head Profits and Gains of Business or Profession.
14 August 2014
it the employer issue form 16 then salary income and if issue form 16A the income from profession.
14 August 2014
If you are contract employee, you have to file ITR 1 or 2.
14 August 2014
if there is employee and employer relationship between you and the company, you are the employee of the company regardless whether you are on contract or on permanent employment.
19 August 2014
my office is central govt society and i m a contract employee. contract is not my business
19 August 2014
plz confirm are you employee of the company or not
19 August 2014
No. You need tp file ITR4. Income Taxable under PGBP.
19 August 2014
no sir i m a contract employee in a central govt society which name is "NIELIT"
19 August 2014
then you have to file ITR-1 or ITR 2
19 August 2014
Umesh ji since the TDS has not been deducted u/s192 then how can it be treated as income from salary.
19 August 2014
Anurag Income will be taxable under PGBP.
19 August 2014
sanjay sir taking contract is not my business then how can i treat it business income
19 August 2014
If you are employee, then file ITR-1 or ITR-2 regardless of tds deducted or nature of employment ( i.e. contract basis or permanent)
19 August 2014
If he is on employment on contract, then how come you file return as pgbp.
If somebody makes mistake, then you have to ask him to rectify the mistake rather than you making mistake to justify his mistake.
If somebody makes mistake, then you have to ask him to rectify the mistake rather than you making mistake to justify his mistake.
19 August 2014
sir i m confussed....... i will submitted the return so that tds was refunded and i dont know the proper head of income
20 August 2014
http://www.charteredclub.com/contract-employee-tax/
Please check out above link.
Please check out above link.
21 August 2014
Logic is simple. In employee and employer relation, they are bound by rule of employment. Whereas in case of consultant or other nature, they are not bound by the rule of employment but they are bound by contract.
It is better for quierst to look what type of contract he has signed by him . I hope he has one and this is the only thing which puts this query to rest.
It is better for quierst to look what type of contract he has signed by him . I hope he has one and this is the only thing which puts this query to rest.
21 August 2014
My view, since the contract basis work,it will not be come under Salary income u/s.17. Though we call it as contract employment, it will be nature of principal & agent relationship not employer and employee relationship . so it will be covered under PGBP.
21 August 2014
Thank you Ramesh Ji for your reply. Anurag i hope its clear for you now.
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