A firm of two doctors is providing nuclear scan services only to patients referred by three major hospitals.The hospitals charge the patients for nuclear scan and passes on a fixed percetage of fees to the firm.The firm is not charging anything from the patients referred.All scanning equipments belong to the hospital.The gross receipt of the firm is Rs.25 lacs.I want to know whether the firm is carrying on business or a profession
1 Replies
CA Shiv
(Business Controller)
(2987 Points)
Replied 28 October 2010
Ofcourse it is profession and also TDS will be deducted by the hospital on the fixed amount. ALso there will be tax audit.
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