Monday, December 12, 2011

Indian Income Tax exceptions help? ?

I am to recieve money from a firm in the Co-operative sector under the head remuneration , in return for the services I render to them( I design software for their office use). I am not their regular employee and I have another regular job for which I recieve salary. I heard the remuneration I recive from them need not becounted as a whole to be a part of my Taxable income-it seems I can deduct the cost incurred to me for delivering these services (for eg-transportation charge) and only the remainder need to be counted for tax.....Is there some sort of provision in this regard.

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