Hi, My income for the FY 2012-13 consists of salary from govt (192) (about 4 lac) & professional fees from pvt company (194J) (about 7 lac). In case of professional fees, 70,000 tax has been deducted at source u/s 194J (flat 10%).
Now I have to file ITR. Please suggest how do I go about it:
1. Can I keep salary as separate and professional fees as separate. Tax liability in this case is about 90600 (i.e 70,000 + 20600).
OR
Do I have to treat full income (11 lac) as lumpsum and calculate tax as per brackets ( 0-2 lac, 2-5 lac, 5-10 lac, >10 lac). Tax liability in this case is about 164800.
2. Which return form(s) do I have to file ?
3. Any other advice to save on tax.
CAclubindia
