Meaning of Profession

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CA. Niranjan Kumar (Querist)
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15 July 2009 What is the meaning of Profession for the purpose of Income Tax Act? A persion providing the service of Video editing & making advertisement, whether it falls in meaning of Business or Profession?

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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16 July 2009 An occupation for which official qualifications are needed and which is often made a lifelong career

Professions such as a lawyer, doctor or chartered accountant, cost accountant, company secretary.

Making advertisement or editing video do not require special qualification and hence not a profession.

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CA Bosu babu

CA Bosu babu (Expert)
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16 July 2009 Advertisement agency received commission from media....will attract 194J

other exs:Professional cameraman, Film artists,

but in ur case if he is just normal video grapher then 194C will attract....as well as for advertisement provided other conditions like bill amount etc....

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CA Bosu babu

CA Bosu babu (Expert)
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16 July 2009 professional; services see 194J section they have notified the some services,

also recently in 2008 one notificat issued to add sports persons as professional.....