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With regards to the income tax - there are plenty of threads on the application of Section 44ADA on retainers. A little bit of research should help you - given that you are a lawyer I presume.
Layman's version would be, you can claim a 50% deduction on the retainer that you get which means only the remaining 5L (specific to your case) shall get taxed basis your tax slabs and the regime of taxation that you are using. If it is the old regime then you also get the advantage of the old 80C benefits.