POSTED BY February 6, 2014 10:16 am COMMENTS (6)ON
Hi, I am working as full time employee with a company from feb-2013, I have some 4.2 Lac CTC. I also do some part time work for an indian client, i have received a total payment of around 1.5Lac from part time work directly in my account in 2013-14.
I have also borrowed some money from friends (20 k approx) in my account.
1) Do i need to pay tax for full time income + Part time work + borrowed money.
2) There is no TDS for the part time work, how to mention the part time income while filling ITR? do i need to provide proof for the other income (part time work) as i dont have any.
1) how will mention the borrowed money while filing ITR. As i stated previously, i don\\’t have any receipt for the part time work. I just get the pay directly in my bank account.
Infact borrowed money and part time income both are bank transfer from individuals.
2)also since my total taxable income is below 5 Lac, is it necessary to file ITR, what are possible disadvantage/harm if i do not fill ITR.