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Classification of income

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2014 Dear Sir,
I want to know the classification of income earned by CA student from providing coaching to juniors.
Please reply me at the earliest.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
29 July 2014 it will be income from business only so where is the question of clasfication comes.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 July 2014 Taxable under the Head Profit and Gains of Business or Profession.
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 August 2014 Many people have advised me that part time income of student earning stipend income from coaching classes should be classified under the head IOS.

Please clarify.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
01 August 2014 Income received from coaching is not stipend income. It will taxable under the head PGBP only.
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