Job and business togather

ron (Querist) 06 July 2014 This query is : Resolved
Dear sir,
I want to know that can i do job and business togather. Rite now im working in icici bank and want to do business as well. So is it possible or not. If not possible then why not possible.

Will be eagerly waiting for your reply.

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P. Venu

(Expert) 07 July 2014
There cannot be any objection, legally.

Devajyoti Barman (Expert) 07 July 2014
Many organisation of repute doe snot allow its employees to engage in business if individual name.

Guest (Expert) 07 July 2014
You seem to have not gone through the Conduct & Discipline Rules of ICICI bank. Better go through that and you will find the answer for yourself. You can't do business along with service of the bank.

Guest (Expert) 07 July 2014
By the way, in what way your question is related to taxation, when it is related to services law?

Rajendra K Goyal (Expert) 07 July 2014
Generally Banks does not allow. Refer your service rules.

ajay sethi (Expert) 07 July 2014
no it is not permissible . you will lose your job if ICICI bank is aware of said fact

ron (Querist) 07 July 2014
My question is related to taxation

ron (Querist) 07 July 2014
Its related to income tax. Will it be right in terms of income tax because when i file my income tax return i will have two source of income that is one from job and other from business.

T. Kalaiselvan, Advocate (Expert) 07 July 2014
As far as doing business simultaneously while employed with a bank, if objected to by the employer quoting the conduct and service rules, it becomes illegal, so decide about further course.

Nitish Banka (Expert) 07 July 2014
see your service agreement...see if there is any clause regarding taking up business.

Guest (Expert) 07 July 2014
You have not given any description about your taxation problem vis-a-vis the business or your service.

Your query cannot have any direct link with taxation when you ask for doing business along with service. Why don't you make the issue clear by describing the problem very clearly?

However, so far as tax return is concerned, you will have to file a single return showing your income from all sources of income, not separately for service or for business, and calculating and depositing tax accordingly..

T. Kalaiselvan, Advocate (Expert) 07 July 2014
The same query has been repeated in the forum section too seeking same clarification, I think the author will not leave before getting a reply to his query favoring him.

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