
SparklyNoodle
TDS calculation
Hey all,
How is the TDS on income from freelancing or consulting calculated. Apart from my job, I am also a Software Development mentor in a startup. They deduct the TDS on a per session basis at 10%. Which means if the per session rate is 100 rs, they send me 90 rs.
I tried filing it under ITR 4 but my freelance income is now being considered under my regular income, and now I have a big tax to pay apart from advance TDS already paid by my employer and the 10% one where I work as a freelancer.
Ideally what should be done in this. Or is there no way to do anything. Can Anyone experienced in this guide me?
15d ago
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TwirlyPenguin
As you are IT professional you have to offer income under 44ada declaring minimum 50% of gross receipts as income.
SparklyNoodle
Remo15d
Yes, SDE at a startup.
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