Girish Bhatnagar (Director) 04 June 2012

Is it amounting to professional income

I am a retired person now working part-time in a registered society that does training and consultancy on not for profit basis in an area of busines expertise.

I get paid a salary and a part of reciepts from from training and consultancy done on behalf of the Society.

TDS is being deposited by the society under 194J - income from profession for payments recieved by me for training and consultancy.

Is it really income from profession? I am only an employee of the society - its the society which is carrying on a business/ profession. Merely because a fixed percentage of reciepts are paid to me - does it make it an income from profession - with liability of CA Audit and maintainance of books of accounts.

I would be grateful for expert advice.

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Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 04 June 2012

Salaried people. It differs from person to person from assessment year to assessment year. The amount of monthly deducion of tax to be made from salary can be calculated by dividing the amount of tax payable by 12 months.