Please advise:
Can 'Freelance consultant' be considered ' Self employed'? Is 'honorarium' taxable?
Thanks.
Self employed
NV MANI (Freelance consultant) (42 Points)
12 June 2011
4 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 12 June 2011
Yes. Honorarium is taxable u/s 194J. TDS to be deducted @ 10%. Threhold limit for Section 194J is Rs. 30000 for single bill and Rs. 75000 for aggregate bill for the year.
Regards,
Devendra Kulkarni
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 12 June 2011
IT WILL BE TAXABLE AS IT FALLS WITHIN THE DEFINITON OF INCOME U/S 2(24).
TDS WILL BE DEDUCTED FOR PROVIDING PROF SERVICES U/S 194J.
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