14 June 2016
My Clint is running an institution as a partnership firm whereby he undertakes project work for B.tech students and also conduct java classes, what will b d income from d above assesses under. Whether Profession or business service?
15 June 2016
For the purpose of professional income, the person has to be have a professional degree like chartered engineer, medical practice, chartered accountancy etc . If the services are rendered in this capacity, the income generated would be considered as professional income else it will be treated as business income
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