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
Please tell me with reason
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.
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.
26 July 2023
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