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Discussion > Taxation > Income Tax > Income tax for self employed   Unanswered Threads Post New Topic

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Victor


Consultant
[ Scorecard : 34]
PRO CHAT CALL
Posted On 10 July 2012 at 11:03 Report Abuse

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
[ Scorecard : 139]
PRO CHAT CALL
Posted On 10 July 2012 at 13:34

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
[ Scorecard : 65]
PRO CHAT CALL
Posted On 10 July 2012 at 23:57

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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