Jeevarathnam
Sr. Manager Hr/admin
RAMAKANT R
Accounts Manager
Swathiverma
It Software
+5 Others

Hi Friends,
I\'m a direct contract employee with a IT Cmopany. my salary is 16500 per month, in that 10% tax getting deducted every month, As a contract employee i\'m not getting any pay slips from my company instead of that they are providing Quaterly TDS certificate. So I wanted to ask if Am I eligible to file income tax return or not? will I get those 10%deduction amount end of the year or not?
What do I need to do for that?
Hi Priyanka
As you are treated as contract employee there will be 10% TDS on your compensation as Professional Fee.
as your compensation is just 16500 PM sure you can claim the TDS amount from Income tax department.
can u just check under which sec they are deducting tds, they are not treating you as employee mostly they are taking professional service from you sec 94 J hence they are deducting 10% they are treating you as contractor hence you are getting tds certificates quarterly form 16A.
HI Priyanka,
Total amount you will be getting during the year is Rs 1,98,000/- ( 16500*12). And total TDS of Rs19,800/- will be deducted during the year.
You can claim full amount as Income tax refund.
You need to file income tax return as professional return and use ITR-4 for filing tax return.
Company will not issue form 16, but they will be issuing you quartely form 16A, ( also called as TDS certificate)
You would need to file your Income Tax Return to claim the refund of Tax deducted by the Company.
Hi:
As you contract employee so there will be 10% TDS on your compensation.
and total amount you will be getting during the year is Rs 1,98,000/- ( 16500*12).
you can claim the TDS amount from Income tax department.
Hi Friends,
I\'m a direct contract employee with a IT Company. my salary is 20000 per month, in that 10% tax getting deducted every month, As a contract employee im getting any pay slips from my company. So I wanted to ask if Am I eligible to file income tax return or not? will I get those 10%deduction amount end of the year or not?
What do I need to do for that?
When should i ask to my hr?
Dear Friends,
We are planning to hire software professional on contract. We want to give her 80 K per month in hand salary after deducting income tax or TDS and P.Tax. Please suggest what will be her CTC per month and how much we have to deduct as tax.
Thanks
P.Ghosh
Dear Pradipta,
You want to appoint the Contract Employee
THERE IS NO PROFESSIONAL TAX DEDUCTION TO CONTRACT EMPLOYEE. DO NOT DEDUCT ANYTHING ON ACCOUNT OF PROFESSIONAL TAX.
IN REGARD TO INCOME TAX SIMPLY DEDUCT 10% = ON 80 K I.E. RS.8,000 PER MONTH.
ISSUE HIM TDS CERTIFICATE OF 24,000 PER MONTH I.E. 96 K PER ANNUM UNDER SECTION 94 J OF INCOME TAX ACT.
Ramakant
Dear Priyanka,
This is the draw back of the Contract Employee - Here we are avoiding all the deductions which is eligible due to the relation of Employer and Employee. i.e. ESIC, PT PROVIDENT FUND ETC.
But while submitting your return please categories your income as professional hence total income you got i.e. Rs.1,98,000 show all the expenses towards the Services you providing as consultants i.e. traveling, petrol, printing etc. now you can know what the net profit - TAX LIABILITY WILL BE APPLICABLE ON THIS NET PROFIT.
While filing of your return, claim the refund of Tax i.e. difference between TDS Deducted and Actual Income Tax Liability.
Ramakant
Dear Pradipta, Please read ISSUE HIM TDS CERTIFICATE OF RS. 24,000 PER QUARTER (PER MONTH) Sorry Ramakant
Hi,
Please help me to file my returns. Form 16A and ITR-4S.
I get a Salary by 16A, Total Salary is :3,80,000.
Tax Deducted is 38,000
So while filling my Tax Return in ITR-4S, can I show it as below:
Income from Salary as: 2,96,000 (3,80,000 - 24,000 (Petrol Expense) - 48,000 (House Rent)).
Income tax exempted is 2,50,000
So my Income from Salary will be: 2,96,000
My Taxable Income is: 46,000
Tax Payable is: 4600
Tax refund: 41,400
So my queries are:
1. Hope my calculation above is correct:
2. Can I show Petrol Expense and House rent in ITR-4S
3. What are the other savings I can show as contract employee to save my tax.
I will be greatfull for your all your help provided.
Thanks in Advance
Swathi
Hi,
Please help me file Income Tax returns for Form 16A on ITR4S.
My total Salary is 3,60,000
Tax Excemption is 2,50,000
Can I file Rent: 48,000
Petrol Expenses: 44,000
1. Please advice on how to save my tax and declare my income.
2. Should I remove 3,60,000 Rent + Petrol Expense from my gross salary and then start computing.
Thanks in Advance
Swathi
Hi,
For the financial year 2018-19, 6 months I have worked as permanent employee and another six months I have been working as contract in other organization.
In contract flat 10% deduction is happening, how to I claim the deducted amount from this.
Could you please tell how I would be filing for both of these incomes.
Hi
There will be 10% deduction on TDS for contract employees and you claim TDS amount from Income tax department
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