Business or profession

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2012 If a Professional person is running coaching centre or tution then the income from such coaching centre is treated as business or profession ??

Please tell me with reason

B.COM, ACA, DISA Namrata

B.COM, ACA, DISA Namrata (Expert)
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22 August 2012 It will be Business income.

The definition of profession is

"A profession is a vocation founded upon specialized high educational training, the purpose of which is to supply objective counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain."

A coaching centre does not satisfy the above definition.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp

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