Income under which head will be treated
This query is : Resolved
03 July 2008
Sir, I am an employee and doing part time accounts work in other organisation and get the amount through cheque. My question is : under which head i should treat this income under Income tax act.
what would be the difference if i was not working in company as an employee and my job is only accounts writing work.Then this income will be treated under which head. Please advise me
what would be the difference if i was not working in company as an employee and my job is only accounts writing work.Then this income will be treated under which head. Please advise me
03 July 2008
In my opinion in frist case it would be taxable as Salary Income and in second case it would be Income from Other Source.
03 July 2008
INCOME FROM OTHER SOURCES.IF THEIR IS NO EMPLOYER AND EMPLOYEE RELATION SHIP.
03 July 2008
IF THERE IS NO EMPLOYER EMPLOYEE RELATIONSHIP IT IS INCOME FROM PROFESSION:::::::::::::::::::
Illustrative activities which constitute ‘profession’ - The word ‘profession’ now has a broader and more comprehensive meaning that formerly accorded to it, and its signification now extends far beyond the well-known classical professions of earlier days as the applications of science and learning are extended to other departments of affairs, other vocations, etc. The various other activities which have also now come to be termed as profession are enumerated in Corpus Juris Secundum (Vol. 72, p. 1219). These include, accountants, architects, chemists, editors, engineers, etc. The above enumeration is followed by list of persons who have been held not to be engaged in the practice of a profession. This list includes beauty culturists, brokers, insurance agents, undertakers and embalmers and various others. ‘Profession’ has to be distinguished even from ‘occupation’ which tantamounts to ‘business’, viz., an occupation which substantially the arrangement for sale of commodities - CIT v. Lallubhai Nagardas & Sons [1993] 204 ITR 93 (Bom
Illustrative activities which constitute ‘profession’ - The word ‘profession’ now has a broader and more comprehensive meaning that formerly accorded to it, and its signification now extends far beyond the well-known classical professions of earlier days as the applications of science and learning are extended to other departments of affairs, other vocations, etc. The various other activities which have also now come to be termed as profession are enumerated in Corpus Juris Secundum (Vol. 72, p. 1219). These include, accountants, architects, chemists, editors, engineers, etc. The above enumeration is followed by list of persons who have been held not to be engaged in the practice of a profession. This list includes beauty culturists, brokers, insurance agents, undertakers and embalmers and various others. ‘Profession’ has to be distinguished even from ‘occupation’ which tantamounts to ‘business’, viz., an occupation which substantially the arrangement for sale of commodities - CIT v. Lallubhai Nagardas & Sons [1993] 204 ITR 93 (Bom
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Gst Sales of FY 2023-24
- Legal heir raised refund , but refund issued to the closed account of deceased.
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
