Tds on part time income
Querist : Anonymous
I am a trainee in an organization where I am getting 5000 as Stipend, I have been invited to take up guest lectures for students in a management institute which generates me a monthly income of 12,000 Rs.
TDS is not applicable on 5000 Rs (Stipend) but the Management institute is asking for TDS on 12,000 Rs. Since my gross total income is then the permissible Tax Limit, I think TDS should not be imposed on 12,000 Rs.
Is there a way out to the problem stated above? Please help me.
Regards,
Querist : Anonymous
Amount received in lieu of guest lectures might not be considered as Salary.
If the same shall be considered as remuneration for professional service, then still the amount would be far less then the specified Tax Bracket.
Kindly suggest a way out to the same..
Thanks in aticipation.
Regards,
Professional Services means services rendered by a person in the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified by the Board for the purposes of Section 44AA.
Other professions notified by the board for the purposes of Section 44AA are – “profession of authorised representative”, “profession of film artist” and “profession of company secretary”
Querist : Anonymous
Seniors like you, in true sense are enlightening and mentoring the freshers through this forum, it is appreciable.
Many Thanks! :)
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