One day back, i attended one meeting. In that a senior most resource person asked the attenders a question.
the question is
"the meaning of professional service is application of the learned, specialised skill, etc.
so, a beggar has the specialised skill(thou' training) to beg NOT every one can easily obtain. a beggar ONLY knows the ways to obtain money from the general public by shouting, by creating emotional sentiments, by telling their personal stories with the donors. Some of then even earn more than Rs.1,00,000. They will be well under the basic exemption limit. Whether they will be assessed under Profts/Gains from Business/Profession or as Income from Salary.
Ofcourse, this is a really interesting question having no answers. WHO KNOWS THEY MAY EVEN GET MORE THAN RS.2,00,000.
CAclubindia
