Income from other source for tax computation

Sir, One employee joined us on Oct, 2012. Before joining us, From July-Sept, he was working as a freelancer for another company.While computing his taxable income for this year- 1. Should I include the income recd from his freelance work along with the salary recd from us. 2. His freelance income was -1,74,000 and TDS then deducted was -17,400/-.

asked Nov 26 '12 at 14:12 by HRIM 12723

As he was working as freelancer, it would be treated as business/professional income. You may not need to compute income tax on total income. It will be employee's responsibility to compute and pay full taxes as per his year income.

answered Nov 30 '12 at 17:29 by Pankaj Batra 5.2k320

Dear sir, while filing Online Return I have wrongly selected ITR 1 form(2011-2012) and the assessment Year 2011-2012. while I wanted to file the Return for assessment year 2012-2013.... I have a intimation letter U/S 143(1)from IT Deppt and They have Demanded some amount. i need to be select the correct form(ITR1- 2012-2013) with correct assessment Year.... if I'll apply for the Rectification, i need to Change the GTI(i.e 0)... as i don't have any income for assessment Year 2011-2012. Now Pls Help how to do the correction....
(Dec 17 '12 at 21:22) maddy
@maddy Please post a separate question for this as it has no relation with earlier question.
(Dec 18 '12 at 00:14) Pankaj Batra

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Nov 26 '12 at 14:12

Seen: 1,749 times

Last updated: Dec 18 '12 at 00:14