Contract Basis amount received

19 February 2019

A loan recovery agent getting a monthly amount on contract basis is to file WHICH income tax return and IN WHICH head of income ?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171571 Points)
Replied 20 February 2019

What is the contract? is it commission basis or fixed amount? Any TDS deducted?

Ranveer singh (34 Points)
Replied 20 February 2019

TDS deducted and That's fixed amount.

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 20 February 2019

it shud be his business income and ITR 4 shud be filed

Ranveer singh (34 Points)
Replied 20 February 2019

he filed his ITR -1 and tds also refunded in his bank account and also income tax processed the itr.

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