TDS deducted on Professional Fee - how to show in I.T. RETN
This query is : Resolved
25 July 2011
Dear Experts,
A person received a total amount of 42750/- towards Fees for training lectures delivered in Companies Training Centre duringt F.A. 2010-11 and the Training Centre has deducted 10% TDS of 4275/- for the same, AND gave Form No.16-A . The person is a salaried employee who received Form No.16 for salary income. Kindly guide as to how he should show this TDS in his I.T. return for A.Y.2011-12? Whether he should add the total fee of 42750/- to his salary income and work out the total tax liability and thereafter deduct the TDS amount already deducted from the said total tax liability to arrive at his final tax payable or any other method is there. Kindly enlighten on this issue. Thanks in advance.
A person received a total amount of 42750/- towards Fees for training lectures delivered in Companies Training Centre duringt F.A. 2010-11 and the Training Centre has deducted 10% TDS of 4275/- for the same, AND gave Form No.16-A . The person is a salaried employee who received Form No.16 for salary income. Kindly guide as to how he should show this TDS in his I.T. return for A.Y.2011-12? Whether he should add the total fee of 42750/- to his salary income and work out the total tax liability and thereafter deduct the TDS amount already deducted from the said total tax liability to arrive at his final tax payable or any other method is there. Kindly enlighten on this issue. Thanks in advance.
25 July 2011
Training Lectures a professional services then its not included in salary income.
25 July 2011
Since TDS has been deducted as professional fees and form 16A has been issued the same would be taxable as business income and not as salary income.
25 July 2011
Thanks for the replies which would not answer my queries fully. Therefore, I would be thankful any experts could give proper guidance elaborately, especially as to how the income from training lecture to be treated in the I.T. return and what about the amount of TDS already deducted on the same,etc. please.
25 July 2011
The income from giving lecture would be professional income and taxable under the head income from business and profession and claim the TDS from the tax liability as you claim TDS on salary.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Darpan registration
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
