Income Tax

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Khushbu (Querist)
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02 October 2008 whether IIT'ian is a professional in case serving as a consultant at coaching class, preparing students for IIT exams

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 October 2008 If it is management consultancy or technical consultancy it is profession. Otherwise no.My answer is based on the income tax act,1961 only.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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03 October 2008 No, it is not a profession.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 October 2008 Khushbu has used the word 'consultant' in the question. So I replied as profession vide page 25 of icai publication ISSUES ON TAX AUDIT (June 2000 edition).Pl pardon me if I am wrong.