29 June 2011
sir, if a person is managing his shop and also indulges in giving tutions to some students then where his tution fess income is to be shown in income from business n profession or income from other sources n whether the expenses incurred for giving tutions will be allowed as an expense ..
and sir will it make any difference if he is fully engaged in giving tutions n not manging his shop?
30 June 2011
Income from other sources is a residual Head. Tution income is an eligible business income. Thus such income should be calculated under PGBP Head.
01 July 2011
thanks , but sir will it not have any impact on considerabilty under the heads of income that its just a part time income n having the irregular nature?
CAclubindia
