06 August 2014
I believe the question is regarding income-tax.
1. holding a MBA degree doesn't get covered under 44AA(1).
2. once you are out of 44AA(1), what matters is not the professional degree you are holding but the actual activities you perform thereafter.
If you are giving consultancy services, then you will be covered under "profession" but if you are, lets say, doing manufacturing activities, then you shall be covered under "business"
07 August 2014
For professional income degree is the second scenario . The activities is do by you will decide sources of income. So consultancy is under professional income.
CAclubindia
