Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381
GST on Retainership contract employment - What will be the tax charged to me by the company, will it be a TDS of 10%? - CiteHR

No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


RSR62
Hi, My ex-employer is offering m a job again as a consultant for 2 years on a retainer ship contract with fixed monthly remuneration and also a yearly variable component based on performance. Since I am 59 years old I am not being offered the job as regular employee as i have crossed the retirement age.

My questions are :
1) What will be the tax charged to me by the company, will it be a TDS of 10% ?
2) Is GST applicable in this case, if yes who will pay the GST, my company or myself and what will be the % of GST if applicable?
3) Can I claim the TDS during my ITR process, and If I am eligible for filing retruns under Section 44ADA ? Thanks and Regards RSR

Read more at: https://www.caclubindia.com/forum/gs...ent-582679.asp

From India, Chennai
PRABHAT RANJAN MOHANTY
535

Dear RSR62,

Q1) What will be the tax charged to me by the company, will it be a TDS of 10% ?
Ans-1) The TDS will be as per the package slab.
2) Is GST applicable in this case, if yes who will pay the GST, my company or myself and what will be the % of GST if applicable?
Ans-2)Businesses and individuals are exempt from GST if their annual aggregate turnover is less than a specific amount i.e.( businesses/individuals with annual aggregate turnover of less than Rs. 20 lakhs were allowed GST exemption.) You better discuss with the HR, if your payment package is less than exempted limit.

Q3) Can I claim the TDS during my ITR process, and If I am eligible for filing return under Section 44ADA ?
Ans3) You can claim back the TDS on filing the return, the excess deducted if any will be retuned by the IT department.
Regards

From India, Mumbai
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.




About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.