Business Daily from THE HINDU group of publications
Monday, Mar 09, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Mar 09, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Taxation Industry & Economy - Consulting Columns - For the Asking Tax on consultancy work I have been offering consultancy to a UK company which pays me in US dollars for my services rendered from India. Under which head I will be taxed? M. K. Ramachandra, emailThis is clearly your professional income and would be taxed accordingly under the head ‘profits from business and profession’ entitling you to claim all expenses incurred in connection with the consultancy work. If the aggregate of receipts during the year exceed Rs 10 lakh you will have to get your accounts tax audited and attach a copy of the audit report with your income-tax return. S. MURLIDHARAN More Stories on : Taxation | Consulting | For the Asking
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