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Stephen (Pgm Management Professional (Retired))     11 April 2016

Debit income vs contract salary income tax

Dear Experts,

Greetings…

I have few query on taxation..

I am a retired person having simple debt based income, post retirement I just started working as contract basis. Now will my employer deduct any tax from my contract amount and how should I file my income tax return under which form/s showing both debit based income and contract based salary also what would be allowable deductions can I claim.

Appreciate your help.

Thanks

Stephen



Learning

 1 Replies

R K JAIN (Advocate)     12 April 2016

If the relation with the person whom you are working is employee and employer then the income will be filed under the Head Salary. Other wise it will be your business income and return will be file on ITR-4.


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