02 July 2023
my wife is working as lecturer in a college on contract basis. the college deducted tds from her payment of Rs.4 lac under section 194 c . college also issued 16 a form form the same . In the 16 a , clearly mentioned 194 c section. As per my knowledge for the tds 194 section one should file return under itr3 professional schedule. But I have confussion that which professional code is to select
03 July 2023
you said that my wife profession code under itr 3(194 c) is 17007 earlier. Total remuneration is Rs. 4 lakh annually. But I have a confusion that under which presumptive tax scheme it comes or can we file without presumptive tax scheme for that. kindly guide me in this regard
05 July 2023
My wife is working as lecturer in a college under contract basis. Her total remuneration is Rs. 3,68,100/- annually for financial year 2022-2023. The college deducted Rs. 3684/- as TDS under section 194 c. As per my knowledge it comes under ITR 3 returns in Professional Income schedule and professional code 17007 (i.e. other education services n.e.c) I am confused now. Should we show Rs.3,68,100 professional income under presumptive income under 44ADA.(50% Expences)? Can we show the above income without using presumptive income option?. In which option or where we should enter the above professional income amount ( online return filing). Kindly guide us in this regard. We are very thankful to you .
CAclubindia
