Victor (Consultant) 10 July 2012
I am working as a freelance consultant in the manufacturing area. I didnt register myself as a self-employed or register as a company. So how i have to proceed to pay my income taxes and what are the documents i need to submit while filing mt IT return.Is there any legal requirement for being an self-employed, i mean whether i need to register my self as self-em[ployed anywhere??
Thanks in advance.
Regards
Victor
Saurabh Bajaj (Chief Investment Planner) 10 July 2012
It now depends on the amount of fees / remuneration received by you.
If the companies, who are availing your services, have deducted TDS for the fees paid to you, they would give you a Form 16A.
Also, if your receipts are in excess of Rs. 10 Lakhs, then you are liable to pay service tax, for which you need to apply for a service tax number too.
Hope this is helpful. For more questions, you may contact me.
Neha Sharma (Student) 10 July 2012
HI Victor
you would be required to file your Income Tax Return in ITR 4
If your Gross Receipts are more than Rs. 15 Lakhs - you would also be required to get your Accounts audited by a Chartered Accountant and in that case - the due date of filing of income tax return would be 30th sept
If the Gross Receipts are less than Rs. 15 lakhs - you arent required to get your accounts audited. In this case, the dude date of filing of income tax return would be 31st july
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