income tax on contractual service

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  1. sidharth sinha

    sidharth sinha New Member

    can anyone explain me how to file my tax?? suppose i worked on contractual basis in a company for 81/2 months earning a total of 400000...then i was appointed on salaried basis for the next 31/2 months earning a total of 300000....no tds was deducted from either of the institutions....how will my income tax be deducted on the money that i hav earned on contractual basis ????
     
  2. Karan Batra

    Karan Batra Well-Known Member

    The Income earned on Contract Basis and Salary Basis would be added. From this income all deductions would be subtracted and the tax would be levied on the balance income as per the income tax slab rates.
     
  3. sidharth sinha

    sidharth sinha New Member

    Then what about the contractual period where i have received money on consolidated basis instead of basic ta and da....can i claim deduction on this money on any other rules that i have incured....
     
  4. Yatin Gandhi

    Yatin Gandhi Active Member

    The expenses incurred by you for earning the income during the contracted period would be allowed to be claimed as an expense
     
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